				<div class="content-wrapper">
					<div class="grid-narrow grid-pad">
						<div class="col col-1-1">
							<div class="content">
								<h1 id="h1">English Vocabulary for&#160;Business</h1><p class="subhead">Пособие составлено на&#160;основе оригинальных транскриптов обучающих видеороликов от&#160;Video&#160;Vocab о&#160;современной деловой лексике.</p>
							</div>
						</div>
					</div>
					<div class="grid-narrow grid-pad">
						<div class="col col-1-1">
							<div class="content">
								<h2 id="a0">Содержание</h2>
								<div class="holder-chapters-select">
									<form method="get" action="javascript:void(0);">
										<p>
											<select class="chapters-select" id="chapters-select" aria-label="Select / Выбрать">
												<option value="" disabled="" selected="">Переход к&#160;главам&#8230;</option>
												<option value="#a1">Supply Chain</option>
												<option value="#a2">Project Management</option>
												<option value="#a3">Marketing: Branding</option>
												<option value="#a4">Marketing: Branding (continued)</option>
												<option value="#a5">Contract Law</option>
												<option value="#a6">Contract Law (continued)</option>
												<option value="#a7">International Trade</option>
												<option value="#a8">Macroeconomics</option>
												<option value="#a9">Macroeconomics (continued)</option>
												<option value="#a10">Internet Marketing</option>
												<option value="#a11">Internet Marketing (continued)</option>
												<option value="#a12">Stocks &amp; Shares</option>
												<option value="#a13">Stocks &amp; Shares (continued)</option>
												<option value="#a14">Sales Management</option>
												<option value="#a15">Sales Management (continued)</option>
												<option value="#a16">Corporate Taxes</option>
												<option value="#a17">Corporate Taxes (continued)</option>
												<option value="#a18">Vocabulary</option>
											</select>
										</p>
									</form>
								</div>
								<div class="holder-btn-expand-hidden-layer"><h2 class="btn-expand-hidden-layer" id="a1">Supply Chain</h2></div><div class="holder-hidden-layer"><p>A supply chain is the entire network of businesses involved in providing goods or services to&#160;a&#160;customer. Includes all the processes related to&#160;the creation, storage, and movement of a&#160;product.</p><p><span class="italic">Example: &#8216;The supply chain for gasoline begins with extracting oil from the ground and ends with the gas sold at the pump.&#8217;</span></p><h3>Logistics</h3><p>Logistics is the process of managing the flow and storage of materials, goods, information and capital. Good&#160;planning and communication is essential to&#160;good logistics.</p><p><span class="italic">Example: &#8216;Our logistics department has a&#160;sophisticated system for tracking materials through the supply chain.&#8217;</span></p><h3>Shipping</h3><p>Shipping is the movement of goods and cargo, either by land, air, or&#160;sea.</p><p><span class="italic">Example: &#8216;We offer customers different shipping options, with different delivery speeds and costs.&#8217;</span></p><h3>Supplier</h3><p>A supplier is a&#160;business that provides goods or services to&#160;other businesses in a&#160;supply chain. a&#160;manufacturer usually relies on several, or even hundreds, of different suppliers.</p><p><span class="italic">Example: &#8216;Gorman Motors is looking for a&#160;new supplier for the electrical components of its trucks.&#8217;</span></p><h3>Materials</h3><p>Materials are the physical items that a&#160;supplier provides to&#160;other businesses. These materials could be raw resources, such as oil, or manufactured parts, such as computer&#160;chips.</p><p><span class="italic">Example: &#8216;The high cost of materials has slowed down the construction sector in the past few years.&#8217;</span></p><h3>Manufacturer</h3><p>A manufacturer uses machines, tools, and labor to&#160;transform materials into goods. The&#160;goods might be for use by consumers or as parts of а&#160;more complex product.</p><p><span class="italic">Example: &#8216;Boeing is one of the largest manufacturers of airplanes in the world.&#8217;</span></p><h3>Distributor</h3><p>A distributor buys products from manufacturers and then resells them to&#160;retailers. a&#160;distributor is like a&#160;middle man between the producers and the consumers.</p><p><span class="italic">Example: &#8216;The Canadian paper company found a&#160;European distributor for their specialty products&#8217;</span></p><h3>Retailer</h3><p>A retailer is a&#160;business that sells products directly to&#160;customers or end-users.</p><p><span class="italic">Example: &#8216;Traditional retailers are complaining about online retailers stealing their customers.&#8217;</span></p><h3>Consumer</h3><p>The consumer is the one who uses a&#160;good or service that has been produced. Consumers are the final link in the supply&#160;chain.</p><p><span class="italic">Example: &#8216;After the economic crisis, consumers showed a&#160;lack of confidence by saving rather than spending.&#8217;</span></p><h3>Purchasing</h3><p>Purchasing is the process of buying the goods and services that a&#160;business needs to&#160;operate. In&#160;the supply chain, a&#160;purchaser creates agreements with a&#160;company&#8217;s suppliers.</p><p><span class="italic">Example: &#8216;Our purchasing department has made the decision to&#160;start buying wore environmentally friendly materials.&#8217;</span></p><h3>Warehousing</h3><p>Warehousing involves all of the functions related to&#160;the large-scale storage of goods and materials. This&#160;includes receiving, identifying, inspecting, storing, and retrieving the&#160;goods.</p><p><span class="italic">Example: &#8216;To reduce its warehousing costs. Rondo Industries is moving its storage facilities to&#160;Oklahoma.&#8217;</span></p><h3>Inventory</h3><p>A company&#8217;s inventory is all the goods and materials that are held in stock. This&#160;includes not only materials needed to&#160;build products, but also finished products yet to&#160;be&#160;sold.</p><p><span class="italic">Example: &#8216;Every month we do an inventory count to&#160;find out how much stock of each part we have.&#8217;</span></p><h3>Materials management</h3><p>Materials management deals with the movement and storage of physical items or products. a&#160;materials manager is responsible for spare parts, quality control, and inventory management.</p><p><span class="italic">Example: &#8216;The materials management team can reduce work stoppages by making sure the machines have spare parts.&#8217;</span></p><h3>Order fulfillment</h3><p>Order fulfillment is the process of receiving, processing, and filling a&#160;customer&#8217;s&#160;order.</p><p><span class="italic">Example: &#8216;Dell Computers has аn order fulfillment system that immediately transfers a&#160;customer&#8217;s online order to&#160;the production area.&#8217;</span></p><h3>Quality assurance</h3><p>Making sure that materials, parts, and products are in good condition is quality assurance. Supply chains must have good QA built in to&#160;reduce waste and improve processes.</p><p><span class="italic">Example: &#8216;Our quality assurance team is responsible for a&#160;15% drop in defective products.&#8217;</span></p><h3>Just-in-time</h3><p>Just-in-Timeisabusinessstrategyaimedatreducinginventoryandassociated costs. With&#160;Just-in-Time manufacturing, just enough materials are ordered and delivered when they are needed.</p><p><span class="italic">Example: &#8216;Just-in-Time manufacturing requires very good communication with suppliers.&#8217;</span></p><h3>ERP</h3><p>ERP is a&#160;system that integrates information from all the different parts of a&#160;business. ERP&#160;can make a&#160;company wore efficient by giving everyone access to&#160;the same data at all&#160;times.</p><p><span class="italic">Example: &#8216;Our new enterprise resource planning software has reduced confusion between our accounting and sales departments.&#8217;</span></p><h3>Practice</h3><p>Now, it&#8217;s your turn to&#160;practice. For&#160;example, if you&#160;hear&#8230;</p><p><span class="italic">We offer free &lt;beep&gt; on orders to&#160;customers in North America.</span></p><p>You can&#160;say&#8230;</p><p><span class="italic">We offer free shipping on orders to&#160;customers in North America.</span></p><h4>Question 1</h4><p><span class="italic">Samsung is very successful because they understand &lt;beep&gt; preferences.</span></p><h4>Answer 1</h4><p><span class="italic">Samsung is very successful because they understand consumer preferences.</span></p><h4>Question 2</h4><p><span class="italic">General Electric is one of the largest &lt;beep&gt; companies in the world.</span></p><h4>Answer 2</h4><p><span class="italic">General Electric is one of the largest manufacturing companies in the world.</span></p><h4>Question 3</h4><p><span class="italic">WalMart is so successful that smaller &lt;beep&gt; find it hard to&#160;compete.</span></p><h4>Answer 3</h4><p><span class="italic">WalMart is so successful that smaller retailers find it hard to&#160;compete.</span></p><h4>Question 4</h4><p><span class="italic">Large shipping companies, such as TNT and FedEx, provide a&#160;complete&lt;beep&gt; solution.</span></p><h4>Answer 4</h4><p><span class="italic">Large shipping companies, such as TNT and FedEx, provide a&#160;complete logistics solution.</span></p><h4>Question 5</h4><p><span class="italic">Every month we count all the &lt;beep&gt; in our storeroom.</span></p><h4>Answer 5</h4><p><span class="italic">Every month we count all the inventory in our storeroom.</span></p><h4>Question 6</h4><p><span class="italic">Our quality &lt;beep&gt; team does regular inspections of incoming materials.</span></p><h4>Answer 6</h4><p><span class="italic">Our quality assurance team does regular inspections of incoming materials.</span></p><h4>Question 7</h4><p><span class="italic">The new production line is based on the principles of just-in-&lt;beep&gt; manufacturing.</span></p><h4>Answer 7</h4><p><span class="italic">The new production line is based on the principles of just-in-time manufacturing.</span></p><h4>Question 8</h4><p><span class="italic">The &lt;beep&gt; department has expanded as we now purchase more materials locally.</span></p><h4>Answer 8</h4><p><span class="italic">The purchasing dept. has expanded as we now purchase more materials locally.</span></p></div>
								<div class="holder-btn-expand-hidden-layer"><h2 class="btn-expand-hidden-layer" id="a2">Project Management</h2></div><div class="holder-hidden-layer"><p>Working in the field of project management requires a&#160;number of distinct skills. a&#160;project manager needs to&#160;be able to&#160;define the scope of a&#160;project clearly, estimate the cost and time required to&#160;complete it. set deliverables and specifications for every stage from start to&#160;finish, and allocate the needed resources as efficiently as possible.</p><p>The ability to&#160;manage people is also a&#160;critical skill. a&#160;good project manager can deal productively with a&#160;broad range of stakeholders, including employees, clients, subcontractors and others affected by the project. He&#160;or she will need to&#160;sign off on major decisions, such as change orders, while choosing the best possible team to&#160;make day-today decisions.</p><h3>Project manager (PM)</h3><p>The person with overall responsibility for planning and managing a&#160;project. This&#160;title is used in the construction industry, information technology and many other industries that are based on the production of a&#160;product or service.</p><p><span class="italic">Example: &#8216;A project manager needs to&#160;begin by setting clear objectives.&#8217;</span></p><h3>Sponsor</h3><p>The person who has authority over a&#160;project, provides funding, approves scope changes and champions the project within an organization. The&#160;project sponsor is usually a&#160;representative of the client, since the client has commissioned and funded the project.</p><p><span class="italic">Example: &#8216;The sponsor should provide high-level guidance while letting the project manager handle day-to-day issues.&#8217;</span></p><h3>Stakeholder</h3><p>Anyone who has an interest in a&#160;project or will be affected by it. Stakeholders can be people inside or outside the organization carrying out the project.</p><p><span class="italic">Example: &#8216;We need to&#160;remember that the homeowners near our new factory are also stakeholders in the expansion project.&#8217;</span></p><h3>Subcontractor</h3><p>A business or person who is paid to&#160;do part of the work assigned to&#160;another person or company. This&#160;noun has a&#160;related verb: to&#160;subcontract.</p><p><span class="italic">Example: &#8216;We can&#8217;t permit our provider to&#160;subcontract any work on our database, since this would put the security of our customer records at risk.&#8217;</span></p><h3>Scope</h3><p>The overall definition of what the project is supposed to&#160;accomplish&#8230; including the project&#8217;s goal, the resources to&#160;be used to&#160;carry it out, and a&#160;specific description of the expected end result.</p><p><span class="italic">Example: &#8216;The scope of this project is a&#160;complete redesign of our customer database.&#8217;</span></p><h3>Deliverables</h3><p>A deliverable may be either a&#160;physical object, such as a&#160;newly designed product, or an outcome, such as the completion of a&#160;business&#160;plan.</p><p><span class="italic">Example: &#8216;For a&#160;project to&#160;succeed, its deliverables need to&#160;be both achievable and clearly defined.&#8217;</span></p><h3>Specifications</h3><p>Specifications is often abbreviated to: specs. Specifications are detailed descriptions of the deliverables for a&#160;project and include all the technical, time and cost requirements of a&#160;project.</p><p><span class="italic">Example: &#8216;This customer software doesn&#8217;t meet our original specifications.&#8217;</span></p><h3>Baseline</h3><p>The baseline will include the project&#8217;s expected costs, schedule and any technical requirements.</p><p><span class="italic">Example: &#8216;Our baseline expectation is to&#160;complete the project by December at a&#160;cost of no more than&#160;$4 million.&#8217;</span></p><h3>Resources</h3><p>All items needed to&#160;complete a&#160;project, such as a&#160;tool, supply item, facility or person. People (human resources) and money (financial resources) are often the most important elements of a&#160;project.</p><p><span class="italic">Example: &#8216;The scope of a&#160;project needs to&#160;watch the resources available to&#160;carry it out.&#8217;</span></p><h3>To estimate</h3><p>To calculate or guess the value, size or amount of something.</p><h3>An estimate</h3><p>The noun form can be either: an estimate or an estimation</p><p><span class="italic">Example: &#8216;The value of the deal is estimated at&#160;$12 million.&#8217;</span></p><h3>Top-down estimate</h3><p>An estimate for the cost, time, and risks of a&#160;project made by looking at the entire project&#8230; from the top-down, or in great detail, and comparing it to&#160;similar projects in the&#160;past.</p><p><span class="italic">Example: &#8216;Richard has worked on several similar projects before, so he can give us a&#160;top-down estimate of how much this owe should cost.&#8217;</span></p><h3>To allocate</h3><p>To decide that аn amount of money, time or other resources should be used for a&#160;certain purpose. This&#160;verb often appears in two strong collocations: to&#160;allocate funds &amp; to&#160;allocate resources.</p><p><span class="italic">Example: &#8216;Du Pout has allocated funds to&#160;build two new factories in Asia.&#8217;</span></p><h3>Margin</h3><p>A spare amount of money, time or other resources that is set aside in case of unforeseen problems, costs or delays.</p><p><span class="italic">Example: &#8216;This construction project has a&#160;two-week margin to&#160;allow for delays due to&#160;bad weather.&#8217;</span></p><p>The meaning of margin is similar to&#160;our next&#160;word&#8230;</p><h3>Contingency</h3><p>A planned allocation of resources that are to&#160;be used in the event that something unforeseen,&#8230; such as a&#160;bad weather, affects the completion of a&#160;project according to&#160;the schedule.</p><p><span class="italic">Example: &#8216;We need to&#160;develop plans to&#160;deal with any contingencies before starting the project.&#8217;</span></p><h3>Change order</h3><p>A request for а&#160;change in a&#160;project&#8217;s scope, deliverables or cost. Most&#160;large projects will require change orders, either because the project manager sees the need for changes or because the client&#8217;s needs have changed.</p><p><span class="italic">Example: &#8216;It&#8217;s important to&#160;get the client to&#160;approve any change orders before allocating more resources.&#8217;</span></p><h3>To sign off</h3><p>To give approval for someone else&#8217;s decision.</p><p><span class="italic">Example: &#8216;The finance director needs to&#160;sign off on any change in our approved vendors.&#8217;</span></p><h3>Practice</h3><p>Now, it&#8217;s your turn to&#160;practice. For&#160;example, if you&#160;hear&#8230;</p><p><span class="italic">The value of the deal is &lt;beep&gt; at &#163;12 million.</span></p><p>You can&#160;say&#8230;</p><p><span class="italic">The value of the deal is estimated at &#163;12 million.</span></p><h4>Question 1</h4><p><span class="italic">We need to&#160;&lt;beep&gt; more resources to&#160;meet the new deadline.</span></p><h4>Answer 1</h4><p><span class="italic">We need to&#160;allocate more resources to&#160;meet the new deadline.</span></p><h4>Question 2</h4><p><span class="italic">It&#8217;s important to&#160;consult with all the &lt;beep&gt; who may be affected by the relocation of our plant.</span></p><h4>Answer 2</h4><p><span class="italic">It&#8217;s important to&#160;consult with all the stakeholders who may be affected by the relocation of our plant.</span></p><h4>Question 3</h4><p><span class="italic">Since the &lt;beep&gt; of this project is quite broad, we&#8217;ll need to&#160;make our plans as detailed as possible.</span></p><h4>Answer 3</h4><p><span class="italic">Since the scope of this project is quite broad, we&#8217;ll need to&#160;make our plans as detailed as possible.</span></p><h4>Question 4</h4><p><span class="italic">The finance director needs to&#160;&lt;beep&gt; on any changes to&#160;our accounts.</span></p><h4>Answer 4</h4><p><span class="italic">The finance director needs to&#160;sign off on any changes to&#160;our accounts.</span></p><h4>Question 5</h4><p><span class="italic">Any project that doesn&#8217;t allow for &lt;beep&gt; is likely to&#160;run into problems.</span></p><h4>Answer 5</h4><p><span class="italic">Any project that doesn&#8217;t allow for contingencies is likely to&#160;run into problems.</span></p><h4>Question 6</h4><p><span class="italic">Unfortunately, the new software doesn&#8217;t meet the original &lt;beep&gt;.</span></p><h4>Answer 6</h4><p><span class="italic">Unfortunately, the new software doesn&#8217;t meet the original specifications.</span></p></div>
								<div class="holder-btn-expand-hidden-layer"><h2 class="btn-expand-hidden-layer" id="a3">Marketing: Branding</h2></div><div class="holder-hidden-layer"><p>In part one, we&#8217;ll focus on the essential elements of establishing a&#160;successful&#160;brand.</p><p>What is a&#160;brand? Brands are what make companies and products stand out from the crowd. They&#160;have an essence, or spirit, and values that make them worthwhile to&#160;the customer.</p><p>To develop a&#160;successful brand, you need to&#160;know about your demographics and the tangible and intangible benefits your products bring to&#160;your customers. Need&#160;to know how well your brand is being received? Focus groups of consumers can give information on brand awareness and brand recognition.</p><p>It&#8217;s also important to&#160;think about how your company and brand will be presented visually. So&#160;you need to&#160;think about your brand&#8217;s trademark or logo, the symbols that represent the brand. Similarly, think about corporate identity and brand identity, two factors that help your customers &#8220;see&#8221; you and your products.</p><p>Now let&#8217;s look at the vocabulary in more detail with some definitions and examples.</p><h3>Brand</h3><p>A brand is what sets a&#160;company&#8212;or its products and services&#8212;apart from its competition. This&#160;includes the way it&#8217;s presented to&#160;the public, customers&#8217; expectations and experiences with the brand, and the way it&#8217;s perceived by others.</p><p><span class="italic">Example: &#8216;McDonald&#8217;s brand incorporates the concepts of fast food, fun, convenience, and variety.&#8217;</span></p><h3>Brand Essence</h3><p>Often called a&#160;brand&#8217;s &#8220;heart and soul,&#8221; brand essence refers to&#160;the fundamental spirit of the brand&#8212;what connects a&#160;brand to&#160;customers&#8212;expressed in a&#160;simple, concise, phrase.</p><p><span class="italic">Example: &#8216;Hallmark produces greeting cards and gifts. its brand essence is &#8220;Caring Shared.&#8221;</span></p><h3>Brand Values</h3><p>Brand values are the aspects of a&#160;brand that bring value to&#160;the customer. This&#160;value is why the customer chooses the&#160;brand.</p><p><span class="italic">Example: &#8216;Driving a&#160;BMW can make someone feel successful and luxurious. These feelings are part of the brand&#8217;s value.&#8217;</span></p><h3>Demographics</h3><p>Demographics refers to&#160;information about customers, such as their age, education level, and where they live. Demographic is the adjective&#160;form.</p><p><span class="italic">Example: &#8216;In October 2009, InsideFacebook.com reported demographic information about Facebook users. 29% of the users were between the ages of 18&#160;and 25.&#8217;</span></p><h3>Tangible</h3><p>Something is tangible if it has a&#160;physical form, something that can be perceived through one of the five senses. In&#160;marketing, tangible often refers to&#160;direct benefits customers can receive from a&#160;brand.</p><p><span class="italic">Example: &#8216;Starbucks customers who participate in its rewards program can receive tangible benefits like free coffee drinks and Wi-Fi access.&#8217;</span></p><h3>Intangible</h3><p>Something that is intangible does not have a&#160;physical form that can be perceived through the senses. Intangible benefits are more conceptual, like a&#160;certain feeling you get when buying a&#160;product or using a&#160;service.</p><p><span class="italic">Example: &#8216;The peace of mind that comes from driving a&#160;Volvo is one of the intangible benefits of the brand.&#8217;</span></p><h3>Focus Group</h3><p>A focus group is a&#160;small group of people that represents a&#160;target demographic. The&#160;group discusses products and services so that companies can learn more about what their customers&#8217; think about the brand or product.</p><p><span class="italic">Example: &#8216;The company used data from focus groups to&#160;decide the name of their new product.&#8217;</span></p><h3>Brand Awareness</h3><p>When customers recognize a&#160;brand and connect it with a&#160;company&#8217;s products, they&#8217;re showing brand awareness.</p><p><span class="italic">Example: &#8216;Because it is new to&#160;the United States, the Chinese sportswear company Li-Ning is still developing brand awareness among Americans.&#8217;</span></p><h3>Brand Recognition</h3><p>When customers show that they know about a&#160;brand when asked specifically about it, they&#8217;re showing brand recognition. Brand recognition is one way to&#160;measure brand awareness.</p><p><span class="italic">Example: &#8216;Toblerone&#8217;s unique packaging and strong promotion in duty-free shops add to&#160;its brand recognition.&#8217;</span></p><h3>Trademark / Logo</h3><p>A trademark or logo is a&#160;graphic symbol that represents the brand. Words, phrases and sounds can also be trademarks.</p><p><span class="italic">Example: &#8216;The &#8220;swoosh&#8221; is a&#160;trademark of Nike. Apple&#8217;s logo is an apple with a&#160;bite taken out of it.&#8217;</span></p><h3>Corporate Identity</h3><p>A company&#8217;s corporate identity is the way it presents itself visually to&#160;the public. These visual elements can include color schemes, logos, words, building architecture, interior design, uniforms, and printed materials.</p><p><span class="italic">Example: &#8216;To show its corporate identity, Mobil Oil consistently displays the word &#8220;Mobil&#8221; in the same text and colors on all of its signs and uniforms.&#8217;</span></p></div>
								<div class="holder-btn-expand-hidden-layer"><h2 class="btn-expand-hidden-layer" id="a4">Marketing: Branding (continued)</h2></div><div class="holder-hidden-layer"><p>To be successful, a&#160;brand needs to&#160;be managed. Brand equity&#8212;its marketing strength&#8212;and differentiation&#8212;how it is different from competitors&#8212;need to&#160;be considered when developing a&#160;brand strategy, or long-term marketing&#160;plan.</p><p>As always, customers are a&#160;key ingredient. Who&#160;will receive your marketing message? That&#8217;s your market segment. How&#160;do customers view the brand? That&#160;question is answered by its positioning. Do&#160;customers repeatedly buy the brand? That&#8217;s all part of brand loyalty.</p><p>Once the brand is established, there are ways to&#160;take it further. Niche marketing can help you reach more specific groups of customers. Rebranding, co-branding, and brand stretching are all ways to&#160;adjust your brand in response to&#160;changing tastes and values. In&#160;the end, a&#160;successful brand will help your company become a&#160;market leader.</p><p>Now let&#8217;s look at these concepts in more detail with some definitions and examples.</p><h3>Brand Management</h3><p>Brand management means overseeing all aspects of a&#160;brand, such as advertising, price, and customer satisfaction so that the brand remains in a&#160;positive light, making it more profitable.</p><p><span class="italic">Example: &#8216;Building trust with consumers is the ultimate aim of brand management.&#8217;</span></p><h3>Brand Equity</h3><p>Brand equity is related to&#160;the marketing power of a&#160;brand. If&#160;a brand is well received and popular, its power to&#160;generate sales and income is increased. This&#160;means the brand has strong brand equity.</p><p><span class="italic">Example: &#8216;Recent safety recalls have severely affected Toyota&#8217;s brand equity.&#8217;</span></p><h3>Brand Strategy</h3><p>Brand strategy is a&#160;long-term marketing plan for a&#160;brand. All&#160;members of an organization are involved with implementing this strategy.</p><p><span class="italic">Example: &#8216;To compete with Coca-Cola, a&#160;company that has existed for over 100&#160;years, Pepsi adopted a&#160;brand strategy that targets younger consumers.&#8217;</span></p><h3>Differentiation</h3><p>Differentiation is the way companies show that their brands or products are different from those of their competitors.</p><p><span class="italic">Example: &#8216;Some automakers are promoting technology as a&#160;differentiation strategy.&#8217;</span></p><h3>Market Segment</h3><p>A market segment is a&#160;group of customers that tends to&#160;share values, needs, and purchasing habits. Companies often direct their advertising toward particular market segments.</p><p><span class="italic">Example: &#8216;Teenagers are one of the main market segments for Virgin Megastores.&#8217;</span></p><h3>Positioning</h3><p>Positioning is the &#8220;place&#8221; a&#160;brand holds in the consumer&#8217;s view, in comparison to&#160;other brands.</p><p><span class="italic">Example: &#8216;The core concept behind Volvo&#8217;s positioning is &#8220;safety.&#8221;&#8217;</span></p><h3>Brand Loyalty</h3><p>When customers consistently choose one brand over another, they are showing brand loyalty.</p><p><span class="italic">Example: &#8216;Some automakers are rewarding brand loyalty by offering discounts to&#160;repeat customers.&#8217;</span></p><h3>Rebranding</h3><p>Rebranding is the process of updating or changing a&#160;brand to&#160;make it more appealing to&#160;its target audience.</p><p><span class="italic">Example: &#8216;Abercrombie &amp; Fitch was originally branded as a&#160;sporting goods company, but in the late 1980s, they rebranded as a&#160;luxury apparel retailer.&#8217;</span></p><h3>Niche Marketing</h3><p>Niche marketing is focused on a&#160;small portion of a&#160;market segment. So, while the market for automobiles is huge, the luxury market for 4wheel drive vehicles is considered a&#160;niche market as it is relatively&#160;small.</p><p><span class="italic">Example: &#8216;Mont Blanc use niche marketing techniques to&#160;reach left-handed consumers.&#8217;</span></p><h3>Co-branding</h3><p>Co-branding is when two or more companies join together and use their brands to&#160;promote one product.</p><p><span class="italic">Example: &#8216;For the Barbie doll&#8217;s 50th anniversary, Mattel and Fiat co-branded to&#160;produce the Barbie 500, a&#160;pink toy car.&#8217;</span></p><h3>Brand Stretching</h3><p>Like elastic, a&#160;brand can be stretched. When&#160;new, sometimes unrelated, products are added to&#160;a&#160;brand, this is brand stretching.</p><p><span class="italic">Example: &#8216;Over time, Yamaha has stretched its brand from musical instruments, to&#160;motorcycles, to&#160;sports equipment.&#8217;</span></p><h3>Market Leader</h3><p>A market leader is a&#160;company or brand that has the largest percentage of sales and revenues.</p><p><span class="italic">Example: &#8216;Our goal is to&#160;become the market leader in tennis equipment.&#8217;</span></p><h3>Practice</h3><p>Now it&#8217;s your turn to&#160;practice. For&#160;example, if you hear:</p><p><span class="italic">We don&#8217;t have many stores in Asia, so we have little brand &lt;beep&gt; there.</span></p><p>You can say:</p><p><span class="italic">We don&#8217;t have many stores in Asia, so we have little brand awareness there.</span></p><h4>Question 1</h4><p><span class="italic">Taco Bell uses a&#160;picture of a&#160;bell in its &lt;beep&gt;.</span></p><h4>Answer 1</h4><p><span class="italic">Taco Bell uses a&#160;picture of a&#160;bell in its logo.</span></p><h4>Question 2</h4><p><span class="italic">We learned a&#160;lot about our customers&#8217; tastes from focus &lt;beep&gt;.</span></p><h4>Answer 2</h4><p><span class="italic">We learned a&#160;lot about our customers&#8217; tastes from focus groups.</span></p><h4>Question 3</h4><p><span class="italic">One of our target &lt;beep&gt; is men over age 65.</span></p><h4>Answer 3</h4><p><span class="italic">One of our target demographics is men over age 65.</span></p><h4>Question 4</h4><p><span class="italic">We&#8217;re going to&#160;test our brand &lt;beep&gt; among college students.</span></p><h4>Answer 4</h4><p><span class="italic">We&#8217;re going to&#160;test our brand recognition among college students.</span></p><h4>Question 5</h4><p><span class="italic">To build our sales among tall businesswomen, we need to&#160;try&lt;beep&gt; marketing.</span></p><h4>Answer 5</h4><p><span class="italic">To build our sales among tall businesswomen, we need to&#160;try niche marketing.</span></p><h4>Question 6</h4><p><span class="italic">My sister always buys Honda cars. She&#8217;s showing brand &lt;beep&gt;.</span></p><h4>Answer 6</h4><p><span class="italic">My sister always buys Honda cars. She&#8217;s showing brand loyalty.</span></p><h4>Question 7</h4><p><span class="italic">Our excellent reputation for quality adds to&#160;our brand &lt;beep&gt;.</span></p><h4>Answer 7</h4><p><span class="italic">Our excellent reputation for quality adds to&#160;our brand equity.</span></p><h4>Question 8</h4><p><span class="italic">Business travelers are our largest market &lt;beep&gt;.</span></p><h4>Answer 8</h4><p><span class="italic">Business travelers are our largest market segment.</span></p></div>
								<div class="holder-btn-expand-hidden-layer"><h2 class="btn-expand-hidden-layer" id="a5">Contract Law</h2></div><div class="holder-hidden-layer"><p>If you&#8217;ve ever signed up for a&#160;mobile phone, booked a&#160;hotel room, or accepted a&#160;job offer, you&#8217;ve made a&#160;contract.</p><p>And there are several key aspects of every contract beginning with the intent to&#160;make one, an offer and consideration for both&#160;sides.</p><p>Agreement on the specific elements of a&#160;contract leads to&#160;acceptance, at which point the contract is legally binding to&#160;both parties.</p><p>Agreement on the specific elements of a&#160;contract leads to&#160;acceptance, at which point the contract is legally binding to&#160;both parties.</p><p>Of course, the parties must have made truthful representations in the course of their negotiations.</p><p>A contract may also be threatened when one party does not fulfill its obligations, which can lead to&#160;repudiation.</p><p>There is also a&#160;situation called frustration when a&#160;contract cannot be fulfilled for unforeseen reasons.</p><p>When two parties under contract cannot agree, they may try to&#160;settle their dispute through a&#160;process of arbitration.</p><p>If this doesn&#8217;t work, one party way attempt to&#160;sue the other in court hoping to&#160;be awarded damages in the case of a&#160;breach of contract.</p><h3>Contract</h3><p>A contract is any formal agreement between people or businesses. Whenever we make a&#160;contract we are creating a&#160;legal relationship.</p><p><span class="italic">Example: &#8216;Under John&#8217;s employment contract he gets three weeks of vacation every year&#8217;</span></p><h3>Intent</h3><p>Having the intent to&#160;make a&#160;contract means that you actually want to&#160;make one. Without intent from both sides, there can be no contract.</p><p><span class="italic">Example: &#8216;While Tabitha wanted to&#160;make some sort of deal Ron had no intent.&#8217;</span></p><h3>Offer</h3><p>When you propose a&#160;contract you are making an offer. That&#160;offer way be accepted, rejected, or amended and sent back as a&#160;counter&#160;offer.</p><p><span class="italic">Example: &#8216;The company lawyers sent the offer to&#160;the competitor&#8217;s legal team.&#8217;</span></p><h3>Consideration</h3><p>Every contract must include something of value for both&#160;sides.</p><p><span class="italic">Example: &#8216;Pen felt that the deal didn&#8217;t include enough consideration for his party&#8217;</span></p><h3>Acceptance</h3><p>Acceptance happens when both sides agree on a&#160;contract. When&#160;the offer or contract is formally accepted, the agreement becomes&#160;legal.</p><p><span class="italic">Example: &#8216;Acceptance of a&#160;contract depends on certain facts being verified.&#8217;</span></p><h3>Party</h3><p>The parties in a&#160;contract are those who are agreeing to&#160;do something. Each&#160;party may be a&#160;person, a&#160;group of people, a&#160;business, or another type of organization.</p><p><span class="italic">Example: &#8216;Because the two parties couldn&#8217;t agree on costs, they failed to&#160;wake a&#160;deal.&#8217;</span></p><h3>Representation</h3><p>Any time you make a&#160;statement of fact in a&#160;contract you are making a&#160;representation.</p><p><span class="italic">Example: &#8216;The judge decided that Answer&#8217;s representations were truthful and accurate.&#8217;</span></p><h3>Repudiation</h3><p>If one party does not fulfill its obligations under a&#160;contract the result is repudiation of the contract. Repudiation may have consequences outlined in the contract or it may lead to&#160;a&#160;lawsuit.</p><p><span class="italic">Example: &#8216;Repeated failure to&#160;paying time led to&#160;repudiation of the contract.&#8217;</span></p><h3>Frustration</h3><p>Frustration happens when the contract cannot be fulfilled for reasons beyond anyone&#8217;s control. Frustration is not the fault of either&#160;party.</p><p><span class="italic">Example: &#8216;Frustration of the contract came about when it was found to&#160;violate trade agreements.&#8217;</span></p><h3>Settle a&#160;dispute</h3><p>When contracted parties can&#8217;t agree, they have a&#160;dispute. Finding a&#160;solution to&#160;their disagreement is referred to&#160;as settling the dispute.</p><p><span class="italic">Example: &#8216;It took the U.S. and Canada years to&#160;settle their dispute over tobacco taxes.&#8217;</span></p><h3>Arbitration</h3><p>Contracted parties that have a&#160;disagreement will usually try to&#160;reach a&#160;solution out of court through arbitration.</p><p><span class="italic">Example: &#8216;Wanting to&#160;avoid a&#160;costly legal battle, the two companies agreed to&#160;arbitration.&#8217;</span></p><h3>Damages</h3><p>If the contracted parties can&#8217;t settle their dispute through arbitration, they would go to&#160;court. In&#160;this case, a&#160;judge may award damages to&#160;the party that is able to&#160;prove their&#160;claim.</p><p><span class="italic">Example: &#8216;The judge awarded damages to&#160;the complainant after a&#160;lengthy court case.&#8217;</span></p></div>
								<div class="holder-btn-expand-hidden-layer"><h2 class="btn-expand-hidden-layer" id="a6">Contract Law (continued)</h2></div><div class="holder-hidden-layer"><p>In contract negotiations, once you come to&#160;terms with the other party you can ratify the agreement.</p><p>During this negotiation, the parties may make certain statements without prejudice.</p><p>When everyone is satisfied, the contract is signed and becomes legally binding.</p><p>The exact terms written into the contract or discussed during negotiation are express&#160;terms.</p><p>There may also be implied terms that are not directly stated but still govern the contract.</p><p>The conditions and warranties of a&#160;contract are laid out in carefully written clauses.</p><p>Legal responsibility, or liability, is spelled out very clearly in a&#160;contract. Parties may be joint and severally liable or they may enjoy limited liability. A&#160;contract may also include exclusion clauses to&#160;remove a&#160;party from legal responsibility in certain circumstances.</p><h3>Terms</h3><p>The terms of a&#160;contract are the detailed points that the parties are agreeing&#160;to.</p><p><span class="italic">Example: &#8216;After a&#160;lengthy negotiation process, we finally came to&#160;terms on a&#160;deal.&#8217;</span></p><h3>Ratify</h3><p>When the parties agree to&#160;a&#160;contract they must ratify the agreement. This&#160;normally means officially accepting the contract by signing a&#160;paper version.</p><p><span class="italic">Example: &#8216;The signatures of both parties are required to&#160;ratify the agreement.&#8217;</span></p><h3>Without prejudice</h3><p>Sometimes parties will state things that they do not want to&#160;be part of the agreement. We&#160;can say that these statements are made without prejudice, and they cannot be used as evidence in legal&#160;cases.</p><p><span class="italic">Example: &#8216;The statement was made without prejudice, so It could not be used in court.&#8217;</span></p><h3>Legally binding</h3><p>If a&#160;contract is legally binding, it means it is valid under the law. The&#160;parties are bound to&#160;the contract and must fulfill their obligations.</p><p><span class="italic">Example: &#8216;The contract was not legally binding because it wasn&#8217;t signed by both parties.&#8217;</span></p><h3>Express terms</h3><p>Conditions, obligations and other points stated directly in a&#160;contract are called express&#160;terms.</p><h3>Implied terms</h3><p>Sometimes a&#160;contract includes terms that are not expressed directly in written form. These are implied terms, and they are usually more difficult to&#160;define than express&#160;terms.</p><h3>Conditions</h3><p>If a&#160;condition is not met the contract is broken, or &#8220;breached.&#8221;</p><p><span class="italic">Example: &#8216;The lawyer worded the conditions of the contract very carefully.&#8217;</span></p><h3>Warranties</h3><p>Warranties are less important terms of a&#160;contract.</p><p><span class="italic">Example: &#8216;Breaking a&#160;warranty does not normally mean the contract has been breached.&#8217;</span></p><h3>Clauses</h3><p>The terms of a&#160;contract are written in sections, called clauses. There are certain types of clauses, such as exemption clauses and non-compete clauses.</p><p><span class="italic">Example: &#8216;I read each and every clause of my employment contract very carefully.&#8217;</span></p><h3>Liability</h3><p>If a&#160;party breaks a&#160;contract or does not fulfill Its duties, that party is liable.</p><p><span class="italic">Example: &#8216;The judge decided liability rested with the supplier because they failed to&#160;deliver.&#8217;</span></p><h3>Joint &amp; severally liable</h3><p>If more than one person or business enters a&#160;contract as partners, they would be joint and severally liable. This&#160;means that each person or business is individually responsible for the entire contract.</p><p><span class="italic">Example: &#8216;Because the contractors were joint and severally liable, they all had to&#160;pay.&#8217;</span></p><h3>Limited liability</h3><p>If one party in a&#160;contract is a&#160;limited company then that company&#8217;s owners enjoy limited liability.</p><p><span class="italic">Example: &#8216;The company enjoyed limited liability, so its directors&#8217; assets were protected.&#8217;</span></p><h3>Exclusion clause</h3><p>A party&#8217;s liability may be limited in certain situations by exclusion clauses. These clauses clearly state that a&#160;party is not responsible if certain things happen.</p><p><span class="italic">Example: &#8216;I asked my lawyer to&#160;insert several exclusion clauses to&#160;reduce my risk.&#8217;</span></p><h3>Practice</h3><p>Now, it&#8217;s your turn to&#160;practice. For&#160;example, If you&#160;hear&#8230;</p><p><span class="italic">I met with the buyer in my lawyer&#8217;s office to&#160;sign the &lt;beep&gt;.</span></p><p>You can&#160;say&#8230;</p><p><span class="italic">I met with the buyer in my lawyer&#8217;s office to&#160;sign the contract.</span></p><h4>Question 1</h4><p><span class="italic">We wanted to&#160;settle the &lt;beep&gt; out of court to&#160;save money.</span></p><h4>Answer 1</h4><p><span class="italic">We wanted to&#160;settle the dispute out of court to&#160;save money.</span></p><h4>Question 2</h4><p><span class="italic">I decided to&#160;refuse the &lt;beep&gt; because the price wasn&#8217;t right.</span></p><h4>Answer 2</h4><p><span class="italic">I decided to&#160;refuse the offer because the price wasn&#8217;t right.</span></p><h4>Question 3</h4><p><span class="italic">A contract becomes legal immediately after &lt;beep&gt;.</span></p><h4>Answer 3</h4><p><span class="italic">A contract becomes legal immediately after acceptance.</span></p><h4>Question 4</h4><p><span class="italic">We celebrated when the judge decided to&#160;award us &lt;beep&gt;.</span></p><h4>Answer 4</h4><p><span class="italic">We celebrated when the judge decided to&#160;award us damages.</span></p><h4>Question 5</h4><p><span class="italic">With so many express &lt;beep&gt;, the contract was 50&#160;pages.</span></p><h4>Answer 5</h4><p><span class="italic">With so many express terms, the contract was 50&#160;pages.</span></p><h4>Question 6</h4><p><span class="italic">The partners were joint and severally &lt;beep&gt; under the contract.</span></p><h4>Answer 6</h4><p><span class="italic">The partners were joint and severally liable under the contract.</span></p><h4>Question 7</h4><p><span class="italic">A special exclusion &lt;beep&gt; removed us from some responsibilities.</span></p><h4>Answer 7</h4><p><span class="italic">A special exclusion clause removed us from some responsibilities.</span></p><h4>Question 8</h4><p><span class="italic">The contract became legally &lt;beep&gt; as soon as it was signed.</span></p><h4>Answer 8</h4><p><span class="italic">The contract became legally binding as soon as it was signed.</span></p></div>
								<div class="holder-btn-expand-hidden-layer"><h2 class="btn-expand-hidden-layer" id="a7">International Trade</h2></div><div class="holder-hidden-layer"><p>In this section we&#8217;ll look at the process of international&#160;trade.</p><h3>Merchandise</h3><p>Goods that are bought and sold in trade are called merchandise. When&#160;merchandise is being moved or shipped, it may be called freight or&#160;cargo.</p><p><span class="italic">Example: &#8216;Trucks took the merchandise in containers from the factory to&#160;the port.&#8217;</span></p><h3>Certificate of manufacture</h3><p>The manufacturer will issue a&#160;certificate of manufacture certifying that the goods are have been made to&#160;the buyer&#8217;s specifications.</p><h3>Certificate of inspection</h3><p>A certificate of inspection shows that the goods meet the required standards prior to&#160;shipment.</p><p><span class="italic">Example: &#8216;The goods appeared damaged, so the buyer checked to&#160;see that the certificate of inspection was valid.&#8217;</span></p><h3>Proforma invoice</h3><p>Before a&#160;supplier sends merchandise to&#160;a&#160;buyer, the supplier provides a&#160;pro forma invoice. This&#160;invoice lists the exact quantity, value, and specifications of the merchandise.</p><p><span class="italic">Example: &#8216;When the shipment arrived, we checked the contents against the pro forma invoice we had received.&#8217;</span></p><h3>Letter of credit</h3><p>In large trades, a&#160;buyer will finance the transaction using a&#160;letter of credit. This&#160;document guarantees that payment will be made when the seller meets the conditions of&#160;sale.</p><p><span class="italic">Example: &#8216;When Wayland Inc. received the letter of credit, they contacted the shipping company to&#160;arrange transport.&#8217;</span></p><h3>Bill of lading</h3><p>A bill of lading is a&#160;contract between an exporter and a&#160;transportation company. The&#160;bill of lading lists the goods being carried and must remain with the merchandise at all&#160;times.</p><p><span class="italic">Example: &#8216;An airline may issue a&#160;bill of lading to&#160;a&#160;seller either before or after payment for goods is made.&#8217;</span></p><h3>Free On Board (FOB)</h3><p>The seller must pay all costs related to&#160;getting the goods to&#160;port and onto the&#160;ship.</p><h3>Cost &amp; Freight (CFR)</h3><p>CFR weans that a&#160;quoted price includes the cost of goods and transport charges to&#160;the destination&#160;port.</p><h3>Cost Insurance Freight (CIF)</h3><p>CIF weans that the quoted price includes the cost of goods, insurance, and transportation to&#160;the destination&#160;port.</p><p><span class="italic">Example: &#8216;The seller agreed to&#160;pay cost and freight, so the buyer had to&#160;buy insurance for the goods.&#8217;</span></p><h3>Bonded warehouse</h3><p>A bonded warehouse is a&#160;place where goods are stored after shipping but before the payment of duties for those&#160;goods.</p><h3>Customs</h3><p>Customs is the authority or organization that controls the flow of goods in and out of a&#160;country.</p><h3>Duty</h3><p>Customs authorities collect the duties&#8212;or taxes&#8212;applied to&#160;imports and exports.</p><p><span class="italic">Example: &#8216;Within a&#160;port, customs officials have the right to&#160;board and search any ship.&#8217;</span></p><h3>Customs broker</h3><p>A customs broker helps importers and exporters move their goods through Customs. Customs brokers prepare documents, help with communication, and arrange payment of duties.</p><p><span class="italic">Example: &#8216;Many customs brokers specialize in certain types of goods, such as textiles, food, or computer equipment.&#8217;</span></p><h3>Practice</h3><p>Now, it&#8217;s your turn to&#160;practice. For&#160;example, If you&#160;hear&#8230;</p><p><span class="italic">The bank issued a&#160;letter of &lt;beep&gt; to&#160;the furniture exporter.</span></p><p>You can&#160;say&#8230;</p><p><span class="italic">The bank issued a&#160;letter of credit to&#160;the furniture exporter.</span></p><h4>Question 1</h4><p><span class="italic">The goods sat in a&#160;bonded &lt;beep&gt; for three months before the duty was paid.</span></p><h4>Answer 1</h4><p><span class="italic">The goods sat in a&#160;bonded warehouse for three months before the duty was paid.</span></p><h4>Question 2</h4><p><span class="italic">The agreed terms were cost and &lt;beep&gt;, so the buyer had to&#160;buy insurance.</span></p><h4>Answer 2</h4><p><span class="italic">The agreed terms were cost and freight so the buyer had to&#160;buy insurance.</span></p><h4>Question 3</h4><p><span class="italic">When the shipment arrived, we checked the contents against the bill of&lt;beep&gt;.</span></p><h4>Answer 3</h4><p><span class="italic">When the shipment arrived, we checked the contents against the bill of lading.</span></p><h4>Question 4</h4><p><span class="italic">After so many delays in customs, we switched to&#160;a&#160;better customs&lt;beep&gt;.</span></p><h4>Answer 4</h4><p><span class="italic">After so many delays in customs, we switched to&#160;a&#160;better customs broker.</span></p></div>
								<div class="holder-btn-expand-hidden-layer"><h2 class="btn-expand-hidden-layer" id="a8">Macroeconomics</h2></div><div class="holder-hidden-layer"><h3>Gross Domestic Product</h3><p>GDP is the value of all goods produced within a&#160;country&#8217;s borders.</p><p><span class="italic">Example: &#8220;In 2012, the United States had the world&#8217;s highest GDP, at over&#160;$15 trillion.&#8221;</span></p><h3>Gross National Product</h3><p>GNP is the value of all goods and services produced by a&#160;country&#8217;s people, wherever they are located.</p><p><span class="italic">Example: &#8220;The Philippines has a&#160;significantly higher GNP than its GDP as it has a&#160;large number of overseas workers.&#8221;</span></p><h3>Business cycle</h3><p>The business cycle refers to&#160;changes in the economy or the rise and fall of GDP over&#160;time.</p><p><span class="italic">Example: &#8220;Central banks often adjust interest rates to&#160;help the economy avoid huge swings in the business cycle.&#8221;</span></p><h3>Expansion</h3><p>Expansion is the part of the business cycle when WP increases. Expansion continues until the economy reaches a&#160;peak.</p><p><span class="italic">Example: &#8220;The 1950s was a&#160;period of great expansion for the U.S. economy.&#8221;</span></p><h3>Recession</h3><p>A recession is the part of the business cycle when GDP falls. A&#160;recession happens when GW decreases for two consecutive quarters.</p><p><span class="italic">Example: &#8220;Government spending may be increased to&#160;help a&#160;country recovery from a&#160;period of recession.&#8221;</span></p><h3>Depression</h3><p>A depression is a&#160;serious recession that lasts two or more years. A&#160;depression involves high unemployment and low output and investment.</p><p><span class="italic">Example: &#8220;Unemployment in Germany during the depression of the 1950s reached nearly 30%.&#8221;</span></p><h3>Trade balance</h3><p>A country&#8217;s trade balance is the difference between bow much it imports and exports.</p><p><span class="italic">Example: &#8220;Several economists have suggested restricting oil imports as a&#160;way of improving the balance of trade.&#8221;</span></p><h3>Trade deficit</h3><p>A country has a&#160;trade deficit when it imports more than it exports.</p><h3>Trade surplus</h3><p>A country has a&#160;trade surplus when it exports more than it imports.</p><p><span class="italic">Example: &#8220;With a&#160;boom in the export of natural resources, Australia is enjoying a&#160;trade surplus.&#8221;</span></p><h3>Practice</h3><p>Now, it&#8217;s your turn to&#160;practice! For&#160;example, if you&#160;hear&#8230;</p><p><span class="italic">Central banks often adjust interest rates to&#160;help the economy avoid huge swings in the business &lt;beep&gt;.</span></p><p>You can&#160;say&#8230;</p><p><span class="italic">Central banks often adjust interest rates to&#160;help the economy avoid huge swings in the business cycle.</span></p><h4>Question 1</h4><p><span class="italic">The recession in Greece has now become a&#160;full-scale &lt;beep&gt;.</span></p><h4>Answer 1</h4><p><span class="italic">The recession in Greece has now become a&#160;full-scale depression.</span></p><h4>Question 2</h4><p><span class="italic">Before the problems of 2008, the world economy had a&#160;great period of &lt;beep&gt;.</span></p><h4>Answer 2</h4><p><span class="italic">Before the problems of 2008, the world economy had a&#160;great period of expansion.</span></p><h4>Question 3</h4><p><span class="italic">We need to&#160;increase our exports to&#160;improve our trade &lt;beep&gt;.</span></p><h4>Answer 3</h4><p><span class="italic">We need to&#160;increase our exports to&#160;improve our trade balance.</span></p></div>
								<div class="holder-btn-expand-hidden-layer"><h2 class="btn-expand-hidden-layer" id="a9">Macroeconomics (continued)</h2></div><div class="holder-hidden-layer"><h3>Income gap</h3><p>The difference between the income and assets of people and groups in society. The&#160;income gap is sometimes called the gap between the rich and&#160;poor.</p><p><span class="italic">Example: &#8220;Countries with a&#160;large income gap typically have higher rates of health and social problems.&#8221;</span></p><h3>Inflation</h3><p>Inflation is the rate of increase in the price of goods and services. As&#160;costs rise, the value of money decreases.</p><p><span class="italic">Example: &#8220;Inflation is rising quickly, which worries both economists and consumers.&#8221;</span></p><h3>Cost of living</h3><p>The average cost of people&#8217;s basic needs, such as food, housing, and clothes.</p><p><span class="italic">Example: &#8220;While Vancouver is seen as a&#160;desirable place to&#160;live, high housing prices have driven up the cost of living.&#8221;</span></p><h3>Consumer price index</h3><p>The CPI shows the change in average prices of basic consumer goods and services. The&#160;CPI helps to&#160;show changes in the cost of living.</p><p><span class="italic">Example: &#8220;Although food prices in Korea increased by 74% in February the overall consumer price index only rose.&#8221;</span></p><h3>Purchasing power</h3><p>Purchasing power is how much goods or services we can buy with a&#160;unit of money. As&#160;prices go up, the purchasing power of our money goes&#160;down.</p><p><span class="italic">Example: &#8220;The purchasing power of one U.S. dollar in 1915&#160;was about the same as twenty dollars in 2006.&#8221;</span></p><h3>Disposable income</h3><p>The amount of money we have to&#160;spend or save after paying taxes is called disposable income.</p><p><span class="italic">Example: &#8220;When consumers are concerned about the economy, they often put more of their disposable income into savings.&#8221;</span></p><h3>Consumer spending</h3><p>Consumer spending is how much money is spent by consumers in an economy. This&#160;includes durables, such as furniture, and non-durables, such as&#160;food.</p><p><span class="italic">Example: &#8220;Bloomberg reports that consumer spending rose last month despite an increase in payroll tax.&#8221;</span></p><h3>Household debt</h3><p>Household debt is the amount of money owed by consumers. This&#160;includes consumer debt such as credit cards, and mortgage&#160;loans.</p><p><span class="italic">Example: &#8220;In the early 2000s, the average American household debt surpassed the average American household income.&#8221;</span></p><h3>Practice</h3><p>Now, it&#8217;s your turn to&#160;practice! For&#160;example, if you&#160;hear&#8230;</p><p><span class="italic">Central banks often adjust interest rates to&#160;help the economy avoid huge swings in the business &lt;beep&gt;.</span></p><p>You can&#160;say&#8230;</p><p><span class="italic">Central banks often adjust interest rates to&#160;help the economy avoid huge swings in the business cycle.</span></p><h4>Question 1</h4><p><span class="italic">Many countries are concerned about the widening income &lt;beep&gt; between rich and poor.</span></p><h4>Answer 1</h4><p><span class="italic">Many countries are concerned about the widening income gap between rich and poor.</span></p><h4>Question 2</h4><p><span class="italic">I like London, but I&#160;feel the cost of &lt;beep&gt; is just too high for me.</span></p><h4>Answer 2</h4><p><span class="italic">I like London, but I&#160;feel the cost of living is just too high for me.</span></p><h4>Question 3</h4><p><span class="italic">Rising oil prices are pushing the overall &lt;beep&gt; rate higher.</span></p><h4>Answer 3</h4><p><span class="italic">Rising oil prices are pushing the overall inflation rate higher.</span></p></div>
								<div class="holder-btn-expand-hidden-layer"><h2 class="btn-expand-hidden-layer" id="a10">Internet Marketing</h2></div><div class="holder-hidden-layer"><h3>Pay-per-click</h3><p>With PPC, companies pay for ads on other websites.</p><p>Advertisers pay a&#160;certain amount each time a&#160;user clicks on an&#160;ad.</p><p><span class="italic">Example: &#8216;We&#8217;ve seen a&#160;huge increase in traffic to&#160;our website since we started a&#160;PPC ad campaign.&#8217;</span></p><h3>Content network</h3><p>A group of websites that agree to&#160;display&#160;ads.</p><p>The largest content networks are Google AdSense &amp; the Yahoo Publisher Network.</p><p><span class="italic">Example: &#8216;Google searches through its content network to&#160;find websites that match your advertisements.&#8217;</span></p><h3>Cost per click</h3><p>CPC means you pay a&#160;set cost each time someone clicks on your&#160;ad.</p><p>The more popular the website you place ads on, the higher the cost per&#160;click.</p><p><span class="italic">Example: &#8216;Our maximum CPC rate is currently&#160;$3.00 but we may have to&#160;pay more if another advertiser outbids us.&#8217;</span></p><h3>Click-through rate</h3><p>CTR shows the number of times users clicked on the ad out of the number of times it was&#160;shown.</p><p><span class="italic">Example: &#8216;We improved our CTR by testing different versions of the same ad and choosing the most popular one.&#8217;</span></p><h3>Landing page</h3><p>The website where people who click on an ad are directed to&#160;when they click-through.</p><p>This could be a&#160;company&#8217;s homepage, a&#160;signup form, or a&#160;promotional&#160;site.</p><p><span class="italic">Example: &#8216;Clicking on the company&#8217;s ad takes users to&#160;a&#160;landing page where they can sign up for a&#160;newsletter.&#8217;</span></p><h3>Conversion</h3><p>When a&#160;user completes an action you want them to&#160;do, you have a&#160;conversion.</p><p>A conversion usually means the user buys, signs up, or downloads something.</p><p><span class="italic">Example: &#8216;Targeted advertising and good sales copy can help increase your conversion rate.&#8217;</span></p><h3>Analytics</h3><p>To determine how effective ads are, advertisers use analytics.</p><p>Analytics shows data about visitors, pages viewed, and conversions.</p><p><span class="italic">Example: &#8216;A good analytics program can give you information about how visitors found your website and what they did when they visited.&#8217;</span></p></div>
								<div class="holder-btn-expand-hidden-layer"><h2 class="btn-expand-hidden-layer" id="a11">Internet Marketing (continued)</h2></div><div class="holder-hidden-layer"><h3>CPA</h3><p>The total cost of each conversion is called the cost per acquisition.</p><p>The CPA is calculated by dividing the cost of the ads by the number of conversions.</p><p><span class="italic">Example: &#8216;To calculate your cost per acquisition, divide the total cost of the ad campaign by the number of new customers.&#8217;</span></p><h3>Practice</h3><p>Now, it&#8217;s your turn to&#160;practice. For&#160;example, if you&#160;hear&#8230;</p><p><span class="italic">We use pay-per-&lt;beep&gt; ads to&#160;drive traffic to&#160;our website.</span></p><p>You can&#160;say&#8230;</p><p><span class="italic">We use pay-per-click ads to&#160;drive traffic to&#160;our website.</span></p><h4>Question 1</h4><p><span class="italic">The marketing consultants recommended a&#160;redesign of our &lt;beep&gt; page to&#160;generate more leads.</span></p><h4>Answer 1</h4><p><span class="italic">The marketing consultants recommended a&#160;redesign of our landing page to&#160;generate more leads.</span></p><h4>Question 2</h4><p><span class="italic">Ads for professional services like lawyers and doctors tend to&#160;have the highest &lt;beep&gt; rates.</span></p><h4>Answer 2</h4><p><span class="italic">Ads for professional services like lawyers and doctors tend to&#160;have the highest CPC rates.</span></p><h4>Question 3</h4><p><span class="italic">We were able to&#160;find out our cost per acquisition using an &lt;beep&gt; program.</span></p><h4>Answer 3</h4><p><span class="italic">We were able to&#160;find out our cost per acquisition using an analytics program.</span></p><h3>Search engine marketing</h3><p>SEM is activity related to&#160;improving the visibility and ranking of websites in search engines.</p><p>SEM includes both SEO, and search advertising, or paid search.</p><h3>Search engine optimization</h3><p>SEO is making a&#160;website attractive to&#160;users and search engines.</p><p>The purpose is to&#160;make it easier for search engines to&#160;find your site and to&#160;rank it highly.</p><p><span class="italic">Example: &#8216;Our new search engine optimization team helped us climb into the top 10&#160;results on Bing.&#8217;</span></p><h3>Search engine results page</h3><p>The search engine results page shows the natural search listings and the PPC&#160;ads.</p><p>How high a&#160;site ranks in the results can be influenced&#160;by SEO.</p><p><span class="italic">Example: &#8216;Posting on forums and linking your content to&#160;social media can help improve your SERP ranking.&#8217;</span></p><h3>Link building</h3><p>Search engines look at the number and quality of sites that link to&#160;yours.</p><p>The more inbound links&#8212;or backlinks&#8212;to&#160;your website, the better:</p><p><span class="italic">Example: &#8216;Link building can be difficult if you don&#8217;t have interesting and original content on your site.&#8217;</span></p><h3>On-page optimization</h3><p>On-page optimization refers to&#160;changes made to&#160;a&#160;webpage to&#160;improve its search engine ranking.</p><p>Optimization can involve changing meta tags, HTML, &amp; page content.</p><p><span class="italic">Example: &#8216;Analytics tools can suggest the most effective keywords for on-page optimization.&#8217;</span></p><h3>Keyword</h3><p>Keywords in the content of a&#160;webpage describe its overall topic or&#160;focus.</p><p>Keyword frequency &#163; placement to&#160;help search engines rank their websites highly.</p><p><span class="italic">Example: &#8216;It&#8217;s a&#160;good idea to&#160;include your primary keywords in the title of your webpage.&#8217;</span></p><h3>White hat SEO</h3><p>Accepted and ethical methods of optimizing a&#160;website are called white hat&#160;SEO.</p><h3>Black hat SEO</h3><p>Attempts to&#160;trick search engines using unethical techniques are called black hat&#160;SEO.</p><p><span class="italic">Example: &#8216;Search engines employ manual site reviewers to&#160;uncover Black Hat SEO tactics.&#8217;</span></p><h3>Practice</h3><p>Now, it&#8217;s your turn to&#160;practice. For&#160;example, if you&#160;hear&#8230;</p><p><span class="italic">We use pay-per-&lt;beep&gt; ads to&#160;drive traffic to&#160;our website.</span></p><p>You can&#160;say&#8230;</p><p><span class="italic">We use pay-per-click ads to&#160;drive traffic to&#160;our website.</span></p><h4>Question 1</h4><p><span class="italic">To improve our ranking in search engines, we hired an &lt;beep&gt; consultant.</span></p><h4>Answer 1</h4><p><span class="italic">To improve our ranking in search engines, we hired an SEO consultant.</span></p><h4>Question 2</h4><p><span class="italic">We get a&#160;lot of traffic from Google because we rank highly on &lt;beep&gt; pages.</span></p><h4>Answer 2</h4><p><span class="italic">We get a&#160;lot of traffic from Google because we rank highly on SERP pages.</span></p><h4>Question 3</h4><p><span class="italic">You might get banned by search engines if you use Black &lt;beep&gt; SEO techniques.</span></p><h4>Answer 3</h4><p><span class="italic">You might get banned by search engines if you use Black Hat SEO techniques.</span></p></div>
								<div class="holder-btn-expand-hidden-layer"><h2 class="btn-expand-hidden-layer" id="a12">Stocks &amp; Shares</h2></div><div class="holder-hidden-layer"><p>Companies raise money by selling stocks or shares in the company to&#160;investors.</p><p>Stocks can rise or fall depending on supply &amp; demand, performance and the economy.</p><p><span class="italic">Example: &#8216;I own shares in large companies like Wal-Mart and Coca Cola, but I&#160;also have stock in some new tech start-ups.&#8217;</span></p><h3>Securities</h3><p>Securities are a&#160;type of investment sold by corporations &amp; governments.</p><p>Securities are usually divided into debt, in the form of bonds, and equity, in the form of stocks.</p><p><span class="italic">Example: &#8216;In the United States, the sale of securities is closely regulated by the SEC.&#8217;</span></p><h3>Stock exchange</h3><p>An exchange is a&#160;place or electronic platform where securities are bought and&#160;sold.</p><p>Popular exchanges include the New York Stock Exchange, Nasdaq, and the LSE.</p><p><span class="italic">Example: &#8216;The New York Stock Exchange, like most exchanges, is closed for weekends and holidays.&#8217;</span></p><h3>Listed</h3><p>When a&#160;company lists its stock, it registers the stock for sale on an exchange.</p><h3>To be listed on</h3><p>To be listed on an exchange, a&#160;company must meet certain requirements such as regular reporting.</p><p><span class="italic">Example: &#8216;Samsung is the tenth largest company listed on the New York Stock Exchange.&#8217;</span></p><h3>Stockbroker</h3><p>A person who buys and sells stocks for investors and provides advice about stock investments.</p><h3>Brokerage</h3><p>A company that employs stock-brokers to&#160;trade stocks for clients.</p><p><span class="italic">Example: &#8216;1 called my stockbroker and asked him to&#160;put in an order for 5,000 shares of Microsoft.&#8217;</span></p><h3>Index</h3><p>A statistical measure of how a&#160;section of the stock market is performing.</p><p>Well-known indices include the Dow Jones Industrial Average and the S&amp;P 500.</p><p><span class="italic">Example: &#8216;Many investors watch Germany&#8217;s PAX index to&#160;find out how the European markets are doing.&#8217;</span></p><h3>Initial Public Offering</h3><p>An IPO is a&#160;company&#8217;s first or initial sale of stock to&#160;the public.</p><p>An IPO can give a&#160;private company access to&#160;capital to&#160;expand.</p><p><span class="italic">Example: &#8216;Facebooks IPO saw the sale of over 420&#160;million shares and about $16 billion in new capital.&#8217;</span></p><h3>Dividends</h3><p>Dividends are a&#160;portion of a&#160;company&#8217;s profits paid to&#160;its shareholders.</p><p><span class="italic">Example: &#8216;1 prefer to&#160;invest in large, stable companies that pay quarterly dividends.&#8217;</span></p><h3>Practice</h3><p>Now, it&#8217;s your turn to&#160;practice. For&#160;example, If you&#160;hear&#8230;</p><p><span class="italic">I am going to&#160;call my &lt;beep&gt; and ask him to&#160;sell my shares in Apple.</span></p><p>You can&#160;say&#8230;</p><p><span class="italic">I am going to&#160;call my stockbroker and ask him to&#160;sell my shares in Apple.</span></p><h4>Question 1</h4><p><span class="italic">Investors were very excited before Twitter&#8217;s big &lt;beep&gt; in 2013.</span></p><h4>Answer 1</h4><p><span class="italic">Investors were very excited before Twitter&#8217;s big IPO in 2013.</span></p><h4>Question 2</h4><p><span class="italic">Samsung is the tenth largest company &lt;beep&gt; on the New York Stock Exchange.</span></p><h4>Answer 2</h4><p><span class="italic">Samsung is the tenth largest company listed on the New York Stock Exchange.</span></p><h4>Question 3</h4><p><span class="italic">I prefer to&#160;invest in large, stable companies that pay quarterly &lt;beep&gt;.</span></p><h4>Answer 3</h4><p><span class="italic">I prefer to&#160;invest in large, stable companies that pay quarterly dividends.</span></p><h4>Question 4</h4><p><span class="italic">The world&#8217;s biggest technology companies are traded on the NASDAQ stock &lt;beep&gt;.</span></p><h4>Answer 4</h4><p><span class="italic">The world&#8217;s biggest technology companies are traded on the NASDAQ stock exchange.</span></p></div>
								<div class="holder-btn-expand-hidden-layer"><h2 class="btn-expand-hidden-layer" id="a13">Stocks &amp; Shares (continued)</h2></div><div class="holder-hidden-layer"><h3>To trade at</h3><p>Each stock trades at a&#160;specific price, which is what you pay to&#160;buy each&#160;share.</p><p>A stock will trade at different prices depending on supply and demand.</p><p><span class="italic">Example: &#8216;Sutter Gold is currently trading at &#171;1&#160;30&#160;per share, but that price is expected to&#160;drop.&#8217;</span></p><h3>To close at</h3><p>Stock prices continually change, but at the end of the trading day they close at a&#160;specific&#160;price.</p><p>Closing prices are often used to&#160;track bow a&#160;stock changes overtime.</p><p><span class="italic">Example: &#8216;Gator Industries share price climbed from&#160;$9 to&#160;$13 by noon but eventually closed at $11.&#8217;</span></p><h3>Bid</h3><p>A bid is an offer made by an investor or a&#160;broker to&#160;buy shares.</p><p><span class="italic">Example: &#8216;I called my brokerage to&#160;place a&#160;bid for 1,000 shares of Yahoo at $35.50.&#8217;</span></p><h3>Short selling</h3><p>Short selling is when an investor tries to&#160;make money on a&#160;stock that he thinks will go&#160;down.</p><p>To do this, he borrows shares, sells them, and then buys them back at the lower&#160;price.</p><p><span class="italic">Example: &#8216;Short selling is a&#160;risky strategy because if a&#160;stock price actually rises, the investor might lose money.&#8217;</span></p><h3>Flash trading</h3><p>Using very fast computers to&#160;analyse stock trades and automatically sell or buy stocks based on very small fluctuations In the&#160;price.</p><p><span class="italic">Example: &#8216;Many people believe that flash trading gives certain traders unfair advantage and influence.&#8217;</span></p><h3>Bear market</h3><p>A bear market is a&#160;general decrease in stock prices over wore than two months.</p><p>Pear markets happen because investors lose confidence, become nervous, and sell stocks.</p><p><span class="italic">Example: &#8216;Many analysts are saying that the recent downturn way signal a&#160;cowing bear market.&#8217;</span></p><h3>Bull market</h3><p>In a&#160;bull market, stock prices are rising, which indicates a&#160;strong economy.</p><p>Pull markets come with investor confidence and increased buying activity.</p><p><span class="italic">Example: &#8216;My financial advisor has warned we that the bull market will end soon and to&#160;be cautious.&#8217;</span></p><h3>Blue chip</h3><p>Considered a&#160;safe investment, a&#160;blue chip stock is the stock of a&#160;large &#163; stable company.</p><p>Popular American blue chip companies include McDonald&#8217;s, Walmart, and Coca&#160;Cola.</p><p><span class="italic">Example: &#8216;Half of my stock investments are in blue chip companies, while the other half is in new tech companies.&#8217;</span></p><h3>Practice</h3><p>Now, it&#8217;s your turn to&#160;practice. For&#160;example, If you&#160;hear&#8230;</p><p><span class="italic">I am going to&#160;call my &lt;beep&gt; and ask him to&#160;sell my shares in Apple.</span></p><p>You can&#160;say&#8230;</p><p><span class="italic">I am going to&#160;call my stockbroker and ask him to&#160;sell my shares in Apple.</span></p><h4>Question 1</h4><p><span class="italic">At the end of the trading day, Google&#8217;s stock &lt;beep&gt; at&#160;$525.</span></p><h4>Answer 1</h4><p><span class="italic">At the end of the trading day, Google&#8217;s stock closed at&#160;$525.</span></p><h4>Question 2</h4><p><span class="italic">The recent economic problems haven&#8217;t affected blue &lt;beep&gt; companies too much.</span></p><h4>Answer 2</h4><p><span class="italic">The recent economic problems haven&#8217;t affected blue chip companies too much.</span></p><h4>Question 3</h4><p><span class="italic">Stock prices are expected to&#160;drop as we enter a&#160;strong &lt;beep&gt; market.</span></p><h4>Answer 3</h4><p><span class="italic">Stock prices are expected to&#160;drop as we enter a&#160;strong bear market.</span></p></div>
								<div class="holder-btn-expand-hidden-layer"><h2 class="btn-expand-hidden-layer" id="a14">Sales Management</h2></div><div class="holder-hidden-layer"><h3>Sales force</h3><p>The people in a&#160;company who sell goods and services are called its sales&#160;force.</p><p>The sales force finds and manages a&#160;company&#8217;s customers.</p><p><span class="italic">Example: &#8216;With such strong growth, we are planning to&#160;double our sales force over the next two years.&#8217;</span></p><h3>Sales rep</h3><p>A rep, or sales representative, is one salesperson in the sales&#160;force.</p><p>A sales rep deals with regular clients and seeks out new&#160;ones.</p><p><span class="italic">Example: &#8216;Every year, all the reps in the Midwest get together in Chicago for the annual sales conference.&#8217;</span></p><h3>Lead</h3><p>A lead is a&#160;person or business that has been identified as a&#160;possible customer.</p><p>Companies generate leads through trade shows, direct advertising and cold calling.</p><p><span class="italic">Example: &#8216;Our booth at the trade show helped generate a&#160;great list of leads in our target market.&#8217;</span></p><h3>Prospect</h3><p>A prospect is a&#160;lead that has been shown a&#160;strong interest in a&#160;product or service.</p><p><span class="italic">Example: &#8216;A good prospect is one that has both the money to&#160;spend and the authority to&#160;spend it.&#8217;</span></p><h3>Qualify</h3><p>A lead that becomes a&#160;prospect is qualified.</p><p>A salesperson will qualify a&#160;lead usually through direct contact or conversation.</p><p><span class="italic">Example: &#8216;If you can&#8217;t qualify the prospect within a&#160;short conversation, it&#8217;s best to&#160;move on to&#160;the next lead.&#8217;</span></p><h3>Funnel</h3><p>As companies qualify prospects &amp; attempt to&#160;make sales, they move customers down the sales funnel.</p><p>The funnel has many leads at the top, and fewer actual customers at the bottom.</p><p><span class="italic">Example: &#8216;Large companies often use statistical analysis to&#160;understand how successful they are at the different stages of the sales funnel.&#8217;</span></p><h3>To close</h3><p>A salesperson closes a&#160;sale when he convinces a&#160;customer to&#160;actually buy a&#160;product or service.</p><p>Closing a&#160;sale may involve signing a&#160;contract or collecting&#160;money.</p><p><span class="italic">Example: &#8216;I send the tough customers to&#160;Harry because he really knows how to&#160;close a&#160;sale.&#8217;</span></p><h3>Practice</h3><p>Now, it&#8217;s your turn to&#160;practice. For&#160;example, if you&#160;hear&#8230;</p><p><span class="italic">The company is expanding into new markets so we plan to&#160;double the size of our sales &lt;beep&gt;.</span></p><p>You can&#160;say&#8230;</p><p><span class="italic">The company is expanding into new markets so we plan to&#160;double the size of our sales force.</span></p><h4>Question 1</h4><p><span class="italic">Advertising online can be an effective way to&#160;generate a&#160;large number of &lt;beep&gt; in a&#160;short amount of time.</span></p><h4>Answer 1</h4><p><span class="italic">Advertising online can be an effective way to&#160;generate a&#160;large number of leads in a&#160;short amount of time.</span></p><h4>Question 2</h4><p><span class="italic">I need to&#160;&lt;beep&gt; a&#160;couple more sales before the end of the month to&#160;meet my target.</span></p><h4>Answer 2</h4><p><span class="italic">I need to&#160;close a&#160;couple more sales before the end of the month to&#160;meet my target.</span></p><h4>Question 3</h4><p><span class="italic">We use Salesforce.com to&#160;monitor leads as they proceed through the sales &lt;beep&gt;.</span></p><h4>Answer 3</h4><p><span class="italic">We use Salesforce.com to&#160;monitor leads as they proceed through the sales funnel.</span></p></div>
								<div class="holder-btn-expand-hidden-layer"><h2 class="btn-expand-hidden-layer" id="a15">Sales Management (continued)</h2></div><div class="holder-hidden-layer"><h3>Sales quota</h3><p>A sales quota is the amount a&#160;sales rep is supposed to&#160;sell in a&#160;given period of&#160;time.</p><h3>Sales commission</h3><p>A sales commission is the percentage of the income from a&#160;sale that the rep is&#160;paid.</p><h3>Sales territory</h3><p>A sales territory is the geographic area where a&#160;sales rep does his&#160;work.</p><p><span class="italic">Example: &#8216;Tom needs to&#160;put in extra hours If he wants to&#160;meet his sales quota by the end of the month.&#8217;</span></p><h3>Business-to-consumer</h3><p>B2C is business to&#160;consumer&#160;sales.</p><p>This means the company sells directly to&#160;the end-user, or customer</p><p>Amazoh.com is an example of a&#160;B2C company.</p><p><span class="italic">Example: &#8216;The Internet has been a&#160;great help to&#160;B2C companies, who can now connect directly with customers.&#8217;</span></p><h3>Business-to-business</h3><p>B2B is business to&#160;consumer&#160;sales.</p><p>The customer is not an individual consumer but another company.</p><p>Boeing is an example of a&#160;B2B company.</p><p><span class="italic">Example: &#8216;In B2B companies, salespeople often have to&#160;persuade a&#160;group of buyers to&#160;purchase a&#160;product or service.&#8217;</span></p><h3>Account</h3><p>A sales account is a&#160;customer or company that regularly buys your products or services.</p><p><span class="italic">Example: &#8216;We put our most senior sales reps on our largest accounts.&#8217;</span></p><h3>CRM</h3><p>CRM is a&#160;system of managing a&#160;company&#8217;s interactions with customers.</p><p>This may involve tracking communications, customer needs, and buying history.</p><p><span class="italic">Example: &#8216;With an effective CRM system, we have achieved a&#160;14% improvement in customer satisfaction.&#8217;</span></p><h3>Vendor</h3><p>A person or company that supplies a&#160;product or service.</p><p><span class="italic">Example: &#8216;Car manufacturers buy from a&#160;great variety of different vendors, who supply all the different components of a&#160;vehicle.&#8217;</span></p><h3>Wholesale</h3><p>Wholesalers sell large quantities of goods to&#160;other companies, who then sell the goods on in smaller quantities.</p><p><span class="italic">Example: &#8216;Wholesale food prices fell last month due to&#160;increased competition among growers.&#8217;</span></p><h3>Retail</h3><p>A retail company sells goods to&#160;the end-user or individual customer.</p><p>A retail salesperson deals directly with customers.</p><p><span class="italic">Example: &#8216;When oil prices change, the retail cost of gas is affected very quickly.&#8217;</span></p><h3>Practice</h3><p>Now, it&#8217;s your turn to&#160;practice. For&#160;example, if you&#160;hear&#8230;</p><p><span class="italic">The company is expanding into new markets so we plan to&#160;double the size of our sales &lt;beep&gt;.</span></p><p>You can&#160;say&#8230;</p><p><span class="italic">The company is expanding into new markets so we plan to&#160;double the size of our sales force.</span></p><h4>Question 1</h4><p><span class="italic">After closing that last sale, I&#8217;ve exceeded my sales &lt;beep&gt; by 20% already.</span></p><h4>Answer 1</h4><p><span class="italic">After closing that last sale, I&#8217;ve exceeded my sales quota by 20% already.</span></p><h4>Question 2</h4><p><span class="italic">The key to&#160;a&#160;smooth sales process is a&#160;good customer &lt;beep&gt; management program.</span></p><h4>Answer 2</h4><p><span class="italic">The key to&#160;a&#160;smooth sales process is a&#160;good customer relationship management program.</span></p><h4>Question 3</h4><p><span class="italic">To ensure compliance with government guidelines, all &lt;beep&gt; must be pre-qualified.</span></p><h4>Answer 3</h4><p><span class="italic">To ensure compliance with government guidelines, all vendors must be pre-qualified.</span></p></div>
								<div class="holder-btn-expand-hidden-layer"><h2 class="btn-expand-hidden-layer" id="a16">Corporate Taxes</h2></div><div class="holder-hidden-layer"><p>Tax is the money the government collects from people &amp; business to&#160;finance the running of the country.</p><p><span class="italic">Example: &#8216;You have to&#160;pay your taxes every year even if you disagree with how the government spends the money.&#8217;</span></p><h3>Corporate income tax</h3><p>Companies pay corporate income tax as a&#160;percentage of their profits.</p><p><span class="italic">Example: &#8216;A good accountant can help reduce the amount of corporate income tax a&#160;company must pay.&#8217;</span></p><h3>Internal Revenue Service</h3><p>The IRS is an agency of the U.S. government that collects taxes and enforces tax&#160;laws.</p><p><span class="italic">Example: &#8216;We received a&#160;notice from the IRS saying that we are late in paying our taxes.&#8217;</span></p><h3>Tax return</h3><p>Tax returns are the official statements of income and taxes&#160;owed.</p><h3>To file a&#160;return</h3><p>When we file a&#160;return, we submit these statements to&#160;the government for review.</p><p><span class="italic">Example: &#8216;In the United States, the deadline for individuals to&#160;file a&#160;tax return is April 15<sup>th</sup>.&#8217;</span></p><h3>Fiscal year</h3><p>The fiscal year is the one-year period a&#160;company uses to&#160;calculate their annual financial statements and&#160;taxes.</p><p><span class="italic">Example: &#8216;Our company's fiscal year matches that of the U.S. government, running from October ist to&#160;September 30<sup>th</sup>.&#8217;</span></p><h3>To declare</h3><p>When a&#160;company files a&#160;tax return, it must declare, or officially state, what it has earned.</p><p><span class="italic">Example: &#8216;Most tax agencies require you to&#160;declare income you have earned on investments in other countries.&#8217;</span></p><h3>Capital gains</h3><p>Capital gains are the profits earned from selling an asset, such as a&#160;building, or an investment, such as shares.</p><h3>Capital gains tax</h3><p>In most countries, companies and individuals are taxed on capital&#160;gains.</p><p><span class="italic">Example: &#8216;Our tax bill was very large last year because we had a&#160;lot of capital gains from the sale of property.&#8217;</span></p><h3>Tax rate</h3><p>A tax rate is the percentage of tax that a&#160;company must pay to&#160;government.</p><p>The US has a&#160;progressive tax rate system, which means rates are higher for companies with bigger profits.</p><p><span class="italic">Example: &#8216;The IRS charges a&#160;tax rate of 15% on corporations with income under&#160;$50,000.&#8217;</span></p><h3>Practice</h3><p>Now, it&#8217;s your turn to&#160;practice. For&#160;example, if you&#160;hear&#8230;</p><p><span class="italic">Most tax agencies require you to&#160;&lt;beep&gt; income you have earned on investments in other countries.</span></p><p>You can&#160;say&#8230;</p><p><span class="italic">Most tax agencies require you to&#160;declare income you have earned on investments in other countries.</span></p><h4>Question 1</h4><p><span class="italic">We had to&#160;pay tax on the capital &lt;beep&gt; we earned from selling our building.</span></p><h4>Answer 1</h4><p><span class="italic">We had to&#160;pay tax on the capital gains we earned from selling our building.</span></p><h4>Question 2</h4><p><span class="italic">Your company should file a&#160;tax &lt;beep&gt; even if it didn't make a&#160;profit.</span></p><h4>Answer 2</h4><p><span class="italic">Your company should file a&#160;tax return even if it didn't make a&#160;profit.</span></p><h4>Question 3</h4><p><span class="italic">Our finance team is working hard to&#160;prepare statements for the end of our fiscal &lt;beep&gt;.</span></p><h4>Answer 3</h4><p><span class="italic">Our finance team is working hard to&#160;prepare statements for the end of our fiscal&#160;year.</span></p></div>
								<div class="holder-btn-expand-hidden-layer"><h2 class="btn-expand-hidden-layer" id="a17">Corporate Taxes (continued)</h2></div><div class="holder-hidden-layer"><h3>Audit</h3><p>In an audit, a&#160;tax agency examines and evaluates the financial statements of a&#160;person or company.</p><p>An audit may reveal mistakes or inconsistencies that result in tax penalties or legal action.</p><p><span class="italic">Example: &#8216;A company may be selected for an audit randomly or if its tax return appears to&#160;contain mistakes.&#8217;</span></p><h3>Compliance</h3><p>If a&#160;person or company follows tax laws correctly, then they are in compliance with those&#160;laws.</p><p><span class="italic">Example: &#8216;Our company spends a&#160;lot of time and money on making sure we are in full compliance with federal tax laws.&#8217;</span></p><h3>Exemptions</h3><p>Government may give an exemption from tax on some income, meaning that income is not&#160;taxed.</p><p>Exemptions are often given to&#160;organizations, such as charities and schools.</p><p><span class="italic">Example: &#8216;In many tax systems, property that is inherited or received as a&#160;gift is given a&#160;tax exemption.&#8217;</span></p><h3>Tax credits</h3><p>A tax credit reduces the amount of tax that a&#160;person or company must&#160;pay.</p><p>The government may give credits to&#160;businesses in certain industries, like oil exploration, to&#160;encourage investment.</p><p><span class="italic">Example: &#8216;The state government grants our company a&#160;tax credit for employing people formerly on welfare.&#8217;</span></p><h3>Tax break</h3><p>A tax break, which includes credits and exemptions, reduces a&#160;person or company's&#160;taxes.</p><p>Companies may be given tax breaks for specific expenses, investments, or activities, such as manufacturing or research.</p><p><span class="italic">Example: &#8216;Many people are upset that large corporations receive greater tax breaks from the government than individuals.&#8217;</span></p><h3>Tax shelter</h3><p>Tax shelters, which may be legal or illegal, are methods that reduce a&#160;company's&#160;taxes.</p><p>Tax shelters include offshore companies, retirement plans, &amp; investment incentives.</p><p><span class="italic">Example: &#8216;With very low tax rates, Bermuda and the Caymans are popular tax shelters for U.S. companies.&#8217;</span></p><h3>Tax rebate</h3><p>When the government gives a&#160;tax rebate, it returns tax money to&#160;people or companies.</p><p><span class="italic">Example: &#8216;We have already paid more tax than we actually owe, so this year we're getting a&#160;big tax rebate.&#8217;</span></p><h3>Practice</h3><p>Now, it&#8217;s your turn to&#160;practice. For&#160;example, if you&#160;hear&#8230;</p><p><span class="italic">Our accountant helps make sure we are in &lt;beep&gt; with tax laws.</span></p><p>You can&#160;say&#8230;</p><p><span class="italic">Our accountant helps make sure we are in compliance with tax laws.</span></p><h4>Question 1</h4><p><span class="italic">If you have ever been selected for a&#160;tax &lt;beep&gt;, you know it is stressful.</span></p><h4>Answer 1</h4><p><span class="italic">If you have ever been selected for a&#160;tax audit you know it is stressful.</span></p><h4>Question 2</h4><p><span class="italic">The government is offering a&#160;tax &lt;beep&gt; for new mining operations.</span></p><h4>Answer 2</h4><p><span class="italic">The government is offering a&#160;tax break for new mining operations.</span></p><h4>Question 3</h4><p><span class="italic">Thanks to&#160;the recent tax cuts, I&#160;should get a&#160;big tax &lt;beep&gt; at the end of the&#160;year.</span></p><h4>Answer 3</h4><p><span class="italic">Thanks to&#160;the recent tax cuts, 1&#160;should get a&#160;big tax rebate at the end of the&#160;year.</span></p></div>
								<div class="holder-btn-expand-hidden-layer"><h2 class="btn-expand-hidden-layer" id="a18">Vocabulary</h2></div><div class="holder-hidden-layer"><table class="respond fit-width table-sort sort" id="table-sort-1"><caption></caption><thead></thead><tbody><tr><td data-label="Термин">acceptance</td><td data-label="Перевод">принятие предложения; одобрение</td></tr><tr><td data-label="Термин">account</td><td data-label="Перевод">основной клиент, крупный заказчик</td></tr><tr><td data-label="Термин">allocate</td><td data-label="Перевод">распределять</td></tr><tr><td data-label="Термин">allocate funds</td><td data-label="Перевод">распределять фонды</td></tr><tr><td data-label="Термин">allocate resources</td><td data-label="Перевод">распределять ресурсы</td></tr><tr><td data-label="Термин">analytics</td><td data-label="Перевод">аналитика</td></tr><tr><td data-label="Термин">arbitration</td><td data-label="Перевод">разбор спора третейским судом</td></tr><tr><td data-label="Термин">audit</td><td data-label="Перевод">ревизия отчетности</td></tr><tr><td data-label="Термин">baseline</td><td data-label="Перевод">исходный план осуществления проекта</td></tr><tr><td data-label="Термин">bear market</td><td data-label="Перевод">рынок с&#160;тенденцией к&#160;снижению курсов</td></tr><tr><td data-label="Термин">bid</td><td data-label="Перевод">предлагаемая цена</td></tr><tr><td data-label="Термин">bill of lading</td><td data-label="Перевод">транспортная накладная</td></tr><tr><td data-label="Термин">Black Hat SEO</td><td data-label="Перевод">черное SEO</td></tr><tr><td data-label="Термин">blue chip</td><td data-label="Перевод">акции наиболее известных крупных компаний, имеющие высокий курс и&#160;стабильно выплачивающие дивиденды</td></tr><tr><td data-label="Термин">bonded warehouse</td><td data-label="Перевод">таможенный склад для хранения товаров до&#160;уплаты пошлины</td></tr><tr><td data-label="Термин">brand</td><td data-label="Перевод">торговая марка</td></tr><tr><td data-label="Термин">brand awareness</td><td data-label="Перевод">уровень узнаваемости брэнда</td></tr><tr><td data-label="Термин">brand equity</td><td data-label="Перевод">значимость брэнда</td></tr><tr><td data-label="Термин">brand essence</td><td data-label="Перевод">суть брэнда</td></tr><tr><td data-label="Термин">brand loyalty</td><td data-label="Перевод">приверженность к&#160;данной марке или разновидности товара</td></tr><tr><td data-label="Термин">brand management</td><td data-label="Перевод">управление брэндом</td></tr><tr><td data-label="Термин">brand recognition</td><td data-label="Перевод">узнаваемость марки</td></tr><tr><td data-label="Термин">brand strategy</td><td data-label="Перевод">стратегия бренда&#160;&#8212; способ создания бренда и&#160;управления брендом. Можно выделить три стратегии: корпоративный брэндинг, брэндинг товарной линии, индивидуальный брэндинг.</td></tr><tr><td data-label="Термин">brand stretching</td><td data-label="Перевод">включение новых товаров в&#160;торговую марку</td></tr><tr><td data-label="Термин">brand values</td><td data-label="Перевод">ценность бренда</td></tr><tr><td data-label="Термин">brokerage</td><td data-label="Перевод">брокерская деятельность</td></tr><tr><td data-label="Термин">bull market</td><td data-label="Перевод">рынок, на&#160;котором наблюдается тенденция к&#160;повышению курсов</td></tr><tr><td data-label="Термин">business cycle</td><td data-label="Перевод">экономический цикл</td></tr><tr><td data-label="Термин">business-to-business</td><td data-label="Перевод">взаимодействие бизнес-бизнес</td></tr><tr><td data-label="Термин">business-to-consumer</td><td data-label="Перевод">взаимодействие бизнес-потребитель</td></tr><tr><td data-label="Термин">capital gains</td><td data-label="Перевод">выигрыш от&#160;продажи капитального имущества</td></tr><tr><td data-label="Термин">capital gains tax</td><td data-label="Перевод">налог на&#160;доход от&#160;реализации основных средств</td></tr><tr><td data-label="Термин">Certificate of Inspection</td><td data-label="Перевод">инспекционный сертификат</td></tr><tr><td data-label="Термин">Certificate of Manufacture</td><td data-label="Перевод">свидетельство об&#160;изготовлении&#160;&#8212; документ, удостоверяющий, что производство завершено и&#160;товар готов к&#160;поставке потребителю</td></tr><tr><td data-label="Термин">CFR</td><td data-label="Перевод">стоимость и&#160;фрахт</td></tr><tr><td data-label="Термин">change order</td><td data-label="Перевод">заказ на&#160;изменение состава работ</td></tr><tr><td data-label="Термин">CIF</td><td data-label="Перевод">стоимость, страхование, фрахт</td></tr><tr><td data-label="Термин">clauses</td><td data-label="Перевод">статьи контракта</td></tr><tr><td data-label="Термин">click-through rate</td><td data-label="Перевод">соотношение в&#160;процентах количества кликов по&#160;баннеру к&#160;количеству его показов</td></tr><tr><td data-label="Термин">co-branding</td><td data-label="Перевод">совместная реклама</td></tr><tr><td data-label="Термин">compliance</td><td data-label="Перевод">соблюдение законодательных требований</td></tr><tr><td data-label="Термин">conditions</td><td data-label="Перевод">существенные условия с&#160;правом расторжения договора</td></tr><tr><td data-label="Термин">consideration</td><td data-label="Перевод">материальное основание договора</td></tr><tr><td data-label="Термин">consumer</td><td data-label="Перевод">потребитель</td></tr><tr><td data-label="Термин">consumer price index</td><td data-label="Перевод">индекс потребительских цен</td></tr><tr><td data-label="Термин">consumer spending</td><td data-label="Перевод">потребительские расходы</td></tr><tr><td data-label="Термин">content network</td><td data-label="Перевод">содержательная сеть</td></tr><tr><td data-label="Термин">contingency</td><td data-label="Перевод">резерв на&#160;непредвиденные расходы</td></tr><tr><td data-label="Термин">contract</td><td data-label="Перевод">договор</td></tr><tr><td data-label="Термин">conversion</td><td data-label="Перевод">отношение числа пользователей, которые совершили покупку товара или услуги на&#160;вашем сайте, к&#160;числу пользователей, которые пришли к&#160;вам на&#160;ресурс по&#160;рекламной ссылке, объявлению или баннеру</td></tr><tr><td data-label="Термин">corporate identity</td><td data-label="Перевод">фирменный стиль</td></tr><tr><td data-label="Термин">corporate income tax</td><td data-label="Перевод">корпоративный подоходный налог</td></tr><tr><td data-label="Термин">Cost and Freight</td><td data-label="Перевод">стоимость и&#160;фрахт</td></tr><tr><td data-label="Термин">cost of living</td><td data-label="Перевод">стоимость жизни</td></tr><tr><td data-label="Термин">cost per click</td><td data-label="Перевод">денежные средства, которые платит рекламодатель за&#160;пользовательский клик по&#160;его рекламному материалу и&#160;следующий за&#160;этим кликом переход пользователя на&#160;рекламируемый сайт или на&#160;целевую страницу</td></tr><tr><td data-label="Термин">Cost, Insurance and Freight</td><td data-label="Перевод">стоимость, страхование, фрахт</td></tr><tr><td data-label="Термин">CPA</td><td data-label="Перевод">оплата за&#160;целевые действия, совершенные посетителями из&#160;поисковых систем</td></tr><tr><td data-label="Термин">CRM</td><td data-label="Перевод">набор инструментов для управления продажами, учета холодных контактов, для автоматизации работы с&#160;вашими клиентами</td></tr><tr><td data-label="Термин">customs</td><td data-label="Перевод">таможня</td></tr><tr><td data-label="Термин">customs broker</td><td data-label="Перевод">агент по&#160;таможенной очистке</td></tr><tr><td data-label="Термин">damages</td><td data-label="Перевод">ущерб</td></tr><tr><td data-label="Термин">deliverables</td><td data-label="Перевод">поставки</td></tr><tr><td data-label="Термин">demographics</td><td data-label="Перевод">демографическая статистика</td></tr><tr><td data-label="Термин">depression</td><td data-label="Перевод">экономический кризис</td></tr><tr><td data-label="Термин">differentiation</td><td data-label="Перевод">разграничение</td></tr><tr><td data-label="Термин">disposable income</td><td data-label="Перевод">доход после уплаты налогов и&#160;сборов</td></tr><tr><td data-label="Термин">distributor</td><td data-label="Перевод">агент по&#160;продаже</td></tr><tr><td data-label="Термин">dividends</td><td data-label="Перевод">прибыль по&#160;акциям</td></tr><tr><td data-label="Термин">duty</td><td data-label="Перевод">пошлина</td></tr><tr><td data-label="Термин">ERP (Enterprise Resource Planning)</td><td data-label="Перевод">планирование ресурсов в&#160;масштабах предприятия</td></tr><tr><td data-label="Термин">estimate</td><td data-label="Перевод">сметные предположения</td></tr><tr><td data-label="Термин">estimate</td><td data-label="Перевод">составлять смету</td></tr><tr><td data-label="Термин">estimation</td><td data-label="Перевод">предварительный подсчет</td></tr><tr><td data-label="Термин">exclusion clause</td><td data-label="Перевод">оговорка об&#160;исключении</td></tr><tr><td data-label="Термин">exemptions</td><td data-label="Перевод">сумма, вычитаемая из&#160;налогооблагаемой базы</td></tr><tr><td data-label="Термин">expansion</td><td data-label="Перевод">развитие</td></tr><tr><td data-label="Термин">express terms</td><td data-label="Перевод">прямо выраженные условия</td></tr><tr><td data-label="Термин">financial resources</td><td data-label="Перевод">финансовые средства</td></tr><tr><td data-label="Термин">fiscal year</td><td data-label="Перевод">отчетный год</td></tr><tr><td data-label="Термин">flash trading</td><td data-label="Перевод">процесс, когда определенные финансовые учреждения получают доступ к&#160;торговой информации за&#160;секунды до&#160;того, как она будет обнародована</td></tr><tr><td data-label="Термин">FOB</td><td data-label="Перевод">свободно на&#160;борту (+ наименование порта отгрузки)</td></tr><tr><td data-label="Термин">focus group</td><td data-label="Перевод">группа для тематического опроса</td></tr><tr><td data-label="Термин">Free On Board</td><td data-label="Перевод">свободно на&#160;борту (+ наименование порта отгрузки)</td></tr><tr><td data-label="Термин">frustration</td><td data-label="Перевод">утрата договором своего смысла</td></tr><tr><td data-label="Термин">funnel</td><td data-label="Перевод">воронка</td></tr><tr><td data-label="Термин">Gross Domestic Product</td><td data-label="Перевод">валовой внутренний продукт</td></tr><tr><td data-label="Термин">Gross National Product</td><td data-label="Перевод">валовый продукт страны</td></tr><tr><td data-label="Термин">household debt</td><td data-label="Перевод">семейная задолженность</td></tr><tr><td data-label="Термин">human resources</td><td data-label="Перевод">трудовые ресурсы</td></tr><tr><td data-label="Термин">implied terms</td><td data-label="Перевод">подразумеваемые условия</td></tr><tr><td data-label="Термин">income gap</td><td data-label="Перевод">разрыв в&#160;доходах</td></tr><tr><td data-label="Термин">index</td><td data-label="Перевод">коэффициент, показатель</td></tr><tr><td data-label="Термин">inflation</td><td data-label="Перевод">инфляция</td></tr><tr><td data-label="Термин">initial public offering</td><td data-label="Перевод">первое открытое размещение акций</td></tr><tr><td data-label="Термин">intangible</td><td data-label="Перевод">нематериальный</td></tr><tr><td data-label="Термин">intent</td><td data-label="Перевод">намерение</td></tr><tr><td data-label="Термин">Internal Revenue Service</td><td data-label="Перевод">Федеральная налоговая служба</td></tr><tr><td data-label="Термин">inventory</td><td data-label="Перевод">управление запасами</td></tr><tr><td data-label="Термин">joint &amp; severally liable</td><td data-label="Перевод">совместно и&#160;индивидуально отвечать</td></tr><tr><td data-label="Термин">just-in-time</td><td data-label="Перевод">управление запасами &#171;точно в&#160;срок&#187;&#160;&#8212; концепция управления запасами, при которой, для сокращения затрат на&#160;хранение, запасы сырья и&#160;готовой продукции сведены к&#160;минимуму путем закупки и&#160;обеспечения отправки запасов а&#160;производственную линию или заказчикам точно в&#160;то время, когда это необходимо</td></tr><tr><td data-label="Термин">keyword</td><td data-label="Перевод">ключевое слово</td></tr><tr><td data-label="Термин">landing page</td><td data-label="Перевод">целевая страница, после нажатия на&#160;рекламный баннер</td></tr><tr><td data-label="Термин">lead</td><td data-label="Перевод">потенциальный клиент</td></tr><tr><td data-label="Термин">legally binding</td><td data-label="Перевод">имеющий обязательную юридическую силу</td></tr><tr><td data-label="Термин">letter of credit</td><td data-label="Перевод">аккредитив&#160;&#8212; письмо одного банка в&#160;адрес другого с&#160;разрешением платежей в&#160;определенном размере. Часто применяется в&#160;международной торговле, когда импортер открывает в&#160;стране экспортера аккредитив в&#160;его пользу.</td></tr><tr><td data-label="Термин">liability</td><td data-label="Перевод">финансовая ответственность</td></tr><tr><td data-label="Термин">limited liability</td><td data-label="Перевод">ограниченная ответственность</td></tr><tr><td data-label="Термин">link building</td><td data-label="Перевод">создание ссылок</td></tr><tr><td data-label="Термин">listed</td><td data-label="Перевод">зарегистрированный на&#160;фондовой бирже</td></tr><tr><td data-label="Термин">logistics</td><td data-label="Перевод">материально-техническое обеспечение</td></tr><tr><td data-label="Термин">logo</td><td data-label="Перевод">фирменный знак</td></tr><tr><td data-label="Термин">manufacturer</td><td data-label="Перевод">производитель</td></tr><tr><td data-label="Термин">margin</td><td data-label="Перевод">гарантийный запас</td></tr><tr><td data-label="Термин">market leader</td><td data-label="Перевод">товар, имеющий высокий удельный вес в&#160;обороте рынка</td></tr><tr><td data-label="Термин">market segment</td><td data-label="Перевод">целевая группа потребителей</td></tr><tr><td data-label="Термин">materials</td><td data-label="Перевод">товарно-материальные ценности</td></tr><tr><td data-label="Термин">materials management</td><td data-label="Перевод">управление материальными ресурсами</td></tr><tr><td data-label="Термин">merchandise</td><td data-label="Перевод">товары</td></tr><tr><td data-label="Термин">niche marketing</td><td data-label="Перевод">сегментация рынка для маркетинга определенного товара</td></tr><tr><td data-label="Термин">offer</td><td data-label="Перевод">предложение заключить договор</td></tr><tr><td data-label="Термин">on-page optimization</td><td data-label="Перевод">оптимизация содержания и&#160;кода веб-страницы под поисковые запросы</td></tr><tr><td data-label="Термин">order fulfillment</td><td data-label="Перевод">выполнение заказа</td></tr><tr><td data-label="Термин">party</td><td data-label="Перевод">сторона в&#160;договоре</td></tr><tr><td data-label="Термин">pay-per-click</td><td data-label="Перевод">это рекламная модель, применяемая в&#160;интернете, в&#160;которой рекламодатель размещает рекламу на&#160;сайтах, и&#160;платит их&#160;владельцам за&#160;нажатие пользователем на&#160;размещенный рекламный баннер</td></tr><tr><td data-label="Термин">PM (Project Manager)</td><td data-label="Перевод">руководитель проекта</td></tr><tr><td data-label="Термин">positioning</td><td data-label="Перевод">рыночная позиция</td></tr><tr><td data-label="Термин">Proforma Invoice</td><td data-label="Перевод">предварительный счет</td></tr><tr><td data-label="Термин">project manager</td><td data-label="Перевод">руководитель проекта</td></tr><tr><td data-label="Термин">prospect</td><td data-label="Перевод">потенциальный покупатель</td></tr><tr><td data-label="Термин">purchasing</td><td data-label="Перевод">снабжение</td></tr><tr><td data-label="Термин">purchasing power</td><td data-label="Перевод">покупательная способность</td></tr><tr><td data-label="Термин">qualify</td><td data-label="Перевод">признать потенциальным покупателем</td></tr><tr><td data-label="Термин">quality assurance</td><td data-label="Перевод">контроль качества</td></tr><tr><td data-label="Термин">ratify</td><td data-label="Перевод">скреплять подписью</td></tr><tr><td data-label="Термин">rebranding</td><td data-label="Перевод">ребрэндинг&#160;&#8212; изменение бренда, имиджа или образа торговой марки, товара или услуги</td></tr><tr><td data-label="Термин">recession</td><td data-label="Перевод">спад</td></tr><tr><td data-label="Термин">representation</td><td data-label="Перевод">заверение</td></tr><tr><td data-label="Термин">repudiation</td><td data-label="Перевод">отказ от&#160;выполнения обязательства</td></tr><tr><td data-label="Термин">resources</td><td data-label="Перевод">средства</td></tr><tr><td data-label="Термин">retail</td><td data-label="Перевод">розничная продажа</td></tr><tr><td data-label="Термин">retailer</td><td data-label="Перевод">розничный торговец</td></tr><tr><td data-label="Термин">sales commission</td><td data-label="Перевод">комиссионный платеж за&#160;продажу</td></tr><tr><td data-label="Термин">sales force</td><td data-label="Перевод">штат сбытового отдела предприятия</td></tr><tr><td data-label="Термин">sales quota</td><td data-label="Перевод">квота сбыта</td></tr><tr><td data-label="Термин">sales rep</td><td data-label="Перевод">менеджер по&#160;продажам</td></tr><tr><td data-label="Термин">sales territory</td><td data-label="Перевод">район сбыта, территория продажи</td></tr><tr><td data-label="Термин">scope</td><td data-label="Перевод">поле деятельности</td></tr><tr><td data-label="Термин">search engine marketing</td><td data-label="Перевод">поисковый маркетинг</td></tr><tr><td data-label="Термин">search engine optimization</td><td data-label="Перевод">комплекс мер для поднятия позиций сайта в&#160;результатах выдачи поисковых систем по&#160;определенным запросам пользователей с&#160;целью продвижения сайта</td></tr><tr><td data-label="Термин">search engine results page</td><td data-label="Перевод">веб-страница, генерируемая поисковой системой в&#160;ответ на&#160;поисковый запрос пользователя</td></tr><tr><td data-label="Термин">securities</td><td data-label="Перевод">ценные бумаги</td></tr><tr><td data-label="Термин">settle a&#160;dispute</td><td data-label="Перевод">урегулировать спор</td></tr><tr><td data-label="Термин">shipping</td><td data-label="Перевод">отправлять любым видом транспорта</td></tr><tr><td data-label="Термин">short selling</td><td data-label="Перевод">Продажа биржевых товаров, ценных бумаг, валюты и&#160;т.&#8239;п., которых у&#160;продавца в&#160;наличии нет. &#171;Короткий&#187; продавец рассчитывает на&#160;падение цен, которое позволит ему до&#160;наступления срока поставки купить запроданный товар и&#160;получить при этом прибыль. &#171;Короткий&#187; продавец является &#171;медведем&#187; (bear).</td></tr><tr><td data-label="Термин">sign off</td><td data-label="Перевод">утвердить</td></tr><tr><td data-label="Термин">specifications</td><td data-label="Перевод">детализация</td></tr><tr><td data-label="Термин">specs</td><td data-label="Перевод">детализация</td></tr><tr><td data-label="Термин">sponsor</td><td data-label="Перевод">финансирующая сторона</td></tr><tr><td data-label="Термин">stakeholder</td><td data-label="Перевод">участник проекта</td></tr><tr><td data-label="Термин">stock exchange</td><td data-label="Перевод">фондовая биржа</td></tr><tr><td data-label="Термин">stockbroker</td><td data-label="Перевод">биржевой брокер</td></tr><tr><td data-label="Термин">subcontract</td><td data-label="Перевод">договор с&#160;субподрядчиком</td></tr><tr><td data-label="Термин">subcontractor</td><td data-label="Перевод">субподрядчик</td></tr><tr><td data-label="Термин">supplier</td><td data-label="Перевод">поставщик</td></tr><tr><td data-label="Термин">tangible</td><td data-label="Перевод">материальный</td></tr><tr><td data-label="Термин">tax break</td><td data-label="Перевод">налоговая льгота</td></tr><tr><td data-label="Термин">tax credits</td><td data-label="Перевод">отсрочка уплаты налога</td></tr><tr><td data-label="Термин">tax rate</td><td data-label="Перевод">ставка налогообложения</td></tr><tr><td data-label="Термин">tax rebate</td><td data-label="Перевод">возврат переплаченных налогов</td></tr><tr><td data-label="Термин">tax return</td><td data-label="Перевод">налоговая декларация</td></tr><tr><td data-label="Термин">tax shelter</td><td data-label="Перевод">территория с&#160;льготным режимом налогообложения</td></tr><tr><td data-label="Термин">terms</td><td data-label="Перевод">условия соглашения</td></tr><tr><td data-label="Термин">to be listed on</td><td data-label="Перевод">официально зарегистрированной на&#160;бирже</td></tr><tr><td data-label="Термин">to close</td><td data-label="Перевод">договариваться о&#160;сделке</td></tr><tr><td data-label="Термин">to close at</td><td data-label="Перевод">иметь какую-л. цену или какой-л. курс на&#160;момент закрытия биржи</td></tr><tr><td data-label="Термин">to declare</td><td data-label="Перевод">декларировать</td></tr><tr><td data-label="Термин">to file a&#160;return</td><td data-label="Перевод">подать декларацию</td></tr><tr><td data-label="Термин">to trade at</td><td data-label="Перевод">торговать акциями на&#160;бирже</td></tr><tr><td data-label="Термин">top-down estimate</td><td data-label="Перевод">метод оценки стоимости &#171;сверху вниз&#187; используется для оценки затрат на&#160;ранних стадиях проекта, когда информация о&#160;проекте еще очень ограниченна. смысл такой укрупненной экспертной оценки в&#160;том, что она производится обобщенно и&#160;проект оценивается в&#160;целом по&#160;одному показателю. оценка удобна тем, что не&#160;требует больших усилий и&#160;времени. недостатком&#160;же является не&#160;такая высокая точность, какая могла&#160;бы быть при более детальной оценке.</td></tr><tr><td data-label="Термин">trade balance</td><td data-label="Перевод">торговый баланс</td></tr><tr><td data-label="Термин">trade deficit</td><td data-label="Перевод">торговый дефицит</td></tr><tr><td data-label="Термин">trade surplus</td><td data-label="Перевод">активный торговый баланс</td></tr><tr><td data-label="Термин">trademark</td><td data-label="Перевод">торговый знак</td></tr><tr><td data-label="Термин">vendor</td><td data-label="Перевод">фирма-поставщик</td></tr><tr><td data-label="Термин">warehousing</td><td data-label="Перевод">складирование</td></tr><tr><td data-label="Термин">warranties</td><td data-label="Перевод">обязательства</td></tr><tr><td data-label="Термин">White Hat SEO</td><td data-label="Перевод">белое SEO</td></tr><tr><td data-label="Термин">wholesale</td><td data-label="Перевод">оптовая торговля</td></tr></tbody></table></div>
								<p class="address" role="contentinfo">&#169;&#160;English Vocabulary for&#160;Business</p>
								<h2>Далее</h2>
								<div class="holder-bottom-navigation"><a href="#/transcripts_linguaspectrum_essential_british_english_expressions" class="btn-larger btn-primary fit-half-width">Следующая</a><a href="#/contents" class="btn-larger btn-secondary fit-half-width">Содержание</a></div>
							</div>
						</div>
					</div>
				</div>
